>>How many shorts have been left dead in the street uttering those words? The problem with shorting these babies is that there are buyers on every dip. O.K., at some point someone will make money shorting these, but the trend says more will lose. <<
Very true. The AOL and DELL charts are ridiculously overbought (esp. DELL, an assembler of BOXES, f'r hevvins sakes), but ridiculously overbought stocks tend to stay overbought. And picking a top in individual stocks is as difficult as picking a bottom.
However, just as IOM finally cracked, these will too. I ain't ready to put my own money on shorting them yet, but I'll let you all know when I do (even if it's only for a pusillanimous hundred shares each).
In the meantime, since I can't gather the courage to short the obviously overbought stocks, I'm short one S&P March contract and 10 oex 510 calls. Not very daring, but what the heck.
This market can't go up forever?? Or can it?? |
