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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (10725)6/30/1998 10:53:00 AM
From: Mama Bear  Read Replies (3) of 18691
 
"Barb, when a company develops such a fanatic following as TAVA now, it is usually near its demise (look at ZITL when in low 20's). "

Agreed. My theory is that in a stock distribution scheme there has to be an end buyer, the one that get stuck holding the bag. The 1929 chestnut about the shoeshine boy giving stock advice is a variation of this theme. I think we're lucky to live in this era, where we can see which investors are in the stock.

For those who wonder, I came to this understanding from my experience of being an "end buyer" in 1996 (IOMG at 38 presplit, USRX at 101, ANCR at 24, etc). I still recall how my losses were all the shorts fault. Fortunately, I pulled myself out of that morass, and started taking resposibility for actually understanding supply/demand issues.

Barb
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