Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: ItsAllCyclical who wrote (9573)	6/3/1998 12:24:00 AM
From: craig crawford	Read Replies (1) of 18691

<< Re: KTEL...Is anyone still short or has anyone recently gone short? I boxed my position, and while suffering horrible paper losses am currently well in the black. Any opinions on future rallies/squeezes? >> I covered yesterday at 15 5/16-15 3/8 after shorting at 25. I think KTEL is ultimately going to the single digits, but it has dropped 60% off it's highs in a little over a month. (40==>15). I think the next 60% (15==>9) might take longer and be hard fought. Take ZITL for example. That stock plummeted from 75 to 6 1/2, but it stayed above 20 for several months, and then held in the 10-20 range for several more. If I had a large position I would stick with it because it's free money in my eyes. But seeing how I only could get 500 shares I figured the next 5 points would be too much hassle. I would like to see a little short covering rally to free up some shares so I could get my hands on some more.

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