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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Dale Baker who wrote (10079)6/16/1998 10:37:00 AM
From: Marconi  Read Replies (1) of 18691
 
Hello Mr. Barker:

Thank you for the explanation. Buying and selling at the same price is what I would advocate doing with volatile stocks--HTCH for one as of recently around 27, now around 22, with the expectation of it going downward before upward, and legging out of the downside once their TSA program appears to work. The Asian effects were swifter in discounting HTCH than I had expected. I think there is room to run to the 16-18 range, unless they really have fumbled the ball on TSA--then it could fall much lower. I think they bet the company on TSA and have gone through record capital for them trying to turn it around, with their latest round of financing being a $100+ M 5 convertible multi-year note to help pay for short term expenses.

This is the strategy of legging out of the extremum starting from a midrange price-point. I hope to become wiser in spotting these kinds of situations. The relentless stuffing of dollars into this market should be changing now, making for a mixed bag of tricks for the high flyers most opportune for this strategy, which I like. If the trend is identified correctly, then it would seem the risks are reduced for the size of the rewards, and that is market efficient. I hope Mr. Babb and others include commentary on such strategy in their remarks about stocks in this forum.
Best regards,
m
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