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Strategies & Market Trends : Action & Options- Taxikid plays

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To: taxikid who wrote (4091)	5/7/1998 7:24:00 PM
From: Allan F	Read Replies (1) of 4339

btw when short to zero becomes a mantra it is time to buy Are you buying ZITL? They are getting extremely cock-sure over there. I think the last time they were this proud was when King sold some of his stock back in November. Though I think this one is finally "it", I do not have a position. I covered at just under 8.1/2 last week (from 12.1/2 in December). I figure if I can get it at $10+ great; if not, cei la vee. If you are still following ZONA, I'd appreciate hearing your powers of prescience. The truth be known, I got stubborn from an unpleasurable short of RAIN last year. I shorted at $23, covered at $32, then saw it crash to $18 "only" 3-6 months later. I guess the big diff this time was the short interest. That and bio-tech. Guys buying that stuff are zealots, plain and simple. The FA is irrelevant, all that matters is a juicey story. Plus they are willing to wait forever and a day. Anyways, I am going to wait for definite signs of cooling off before I attempt to short again...Maybe a slow drift from $60 to $50 will be my next sell signal<ggg> Live and learn, -Allan

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