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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Lazlo Pierce who wrote (6548)4/8/1998 11:43:00 AM
From: space cadet   of 18691
 
Pancho and everyone else: Thanks for the kind words. About my book/newsletter: I'll start it after I finish executing John Wheeler's
advise on becoming an expert. According to Wheeler (who coined the phrase black hole, was Richard Feynman's Ph.D. advisor and all around great guy) an expert is someone who has already made every possible mistake. I'm well on my way to that status. Boy do the option guys know how to rip off great chunks of cash for every small mistake made! Other than the futures markets (which I have not played) I don't think there's a more costly education anywhere else, including Harvard and MIT.
Anyway, almost everyone "in the know" thinks YHOO is going to report either good or great numbers tonight. So I am trying to decide how to play things here. Actually I already got out of my short positions (even though I'm not short yhoo I think it will have a large effect on other hi-flyers) for today and tomorrow and may get back in tomorrow before closing or Friday. After yhoo reports, it looks like lousy earnings as far as the eye can see (especially whenever a semiconductor company reports) until MSFT delivers another academy awarding winning performance. I'd be interested in how others plan on playing this yhoo report.
Incidentally about the biotech companies, I have noticed they have gone up insanely with the internet stocks and I think they will need some correction as well. Though I'm not experienced in the ways of the biotech/FDA world, and so am cautious.
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