Shorting stocks: Broken stocks - Analysis Message Board

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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis

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To: Ken Brown who wrote (1391)	7/15/1998 3:55:00 AM
From: Dale Baker	Read Replies (2) of 2506

The equal and opposite possibility is that ITEX will become Wednesday's LEAP, i.e. gap up and waver for a while, then succumb to momentum players selling out. Float is large enough and short interest low. Mo-mo players aren't known for long attention spans. Expect ITEX to gap around 6 1/2, then watch for a break under 6. If it can't get its head above water there and make it back to the opening price, it's a fairly safe short. As long as it behaves like LEAP, that is. I didn't play LEAP yesterday, just watched. ITEX is on my close watch list for today.

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