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Strategies & Market Trends : Internet Shorts

YHOO 52.58

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Jun 26 5:00 PM EST

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To: wiley murray who wrote (42)	7/12/1998 3:15:00 PM
From: epicure	Read Replies (1) of 64

Hashimoto resigning or not resigning could have a serious impact on our markets (and of course on the Japanese market.) We could have a selloff starting on monday according to the thinking on the Asia thread- if Hashimoto does NOT resign. Much harder to figure out what will happen if he does resign- my guess- momentary irrational exuberance, followed by rational uncertainty. So far I have had fairly good luck using MACD on the internet stocks I follow. AMZN has just started to fall and looks to have a lot more air under it. SEEK probably has 4-6 more points left to fall, but as you said Wiley, the Disney deal makes SEEK unattractive as a short. YHOO has a 30-40 pt drop left in it, but the premium on the puts sucks and I don't short stocks. EGGS hasn't turned yet but when it does it will be a lovely short. XCIT has come down a lot- almost to my trend line, probably not much left there on the short side- unless it REALLY overcorrects. LCOS looks just like XCIT. Same problems- has come down a lot. Anyway- those are the ones I follow. Thanks for this thread Wiley- it is great.

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