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Strategies & Market Trends : Roger's 1998 Short Picks
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To: put2rich who wrote (12079)7/28/1998 2:01:00 PM
From: virgil vancleave  Read Replies (1) of 18691
 
tells me that there are lots of shorts out there who have to cover sometime. any slight recovery in the stock will be overexagerated.
amzn is now looking like a wounded animal chart wise. should pullback to a right shoulder probably as the shorts cover and then is the time to short. the options are way too high priced.

one way to play amzn would be to buy the stock and sell the covered calls for the premiums and use that to purchase some puts at a lower strike price. prefereably more puts than stock, and then if you're right about the large movement down to come you profit quite well without assuming much risk. hope this helps. good luck.
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