Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Bill Wexler who wrote (2144)	8/27/1998 9:26:00 PM
From: Bill Wexler	Read Replies (4) of 4634

TRADING STRATEGY ALERT....short sellers should be prepared to take profits. I covered Y2K shorts today that I have been hanging out in the wind for some time...including ACLY and VIAS. I also partially covered several other positions. I suggest that short-sellers consider covering at least a portion of all short positions tomorrow or at least pinning them down with options. IMO, it doesn't matter what stock or how bad it is - I think it would be an excellent opportunity to take some intermediate profits. Note: my long-term opinion of Y2K stocks and outright frauds such as ALTIF has not changed, I am only concerned by the extreme bearishness and near-panic today. I think the market will probably turn around soon. Many of the small/micro-cap short picks are now trading in the low to mid single digits - a healthy bounce in the small cap market may spike these things 50 - 100% rather quickly.

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