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Strategies & Market Trends : Roger's 1998 Short Picks

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To: vegetarian who wrote (5434)3/24/1998 2:53:00 PM
From: Pancho Villa  Read Replies (2) of 18691
 
Hi MC: Yes being short these days, particularly internet stuff and BFIT is not fun! I am just being patient. Once the earning warnings started to come in and nobody cared I concluded that MM would keep all the high flyers up there through the end of March. I am Waiting for some downward movement in these stocks and the market in general in April (will it come?). The classic pre-market correction (colapse) conditions are given:

Extremely sharp market increase without fundamental support (except for low interest rates/past infaltion)

Shorts giving up (except for Pancho and a few others in SI:-))

Foreigners buying

Lack of fear

Goldman Sacks with record earnings and thinking to go public.

Merrill Lynch a possible take over

Will history repeat itselg again?

Probably yes but we do not know when!

Pancho
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