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Strategies & Market Trends : SPARKY'S CORNER
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To: Bruce A. Brotnov who wrote (3594)9/3/1998 11:25:00 AM
From: Gary K. Best  Read Replies (2) of 4142
 
Bruce,
Your luck with shorts is a lot like mine. On Monday I shorted TALK at 14 13/16 since it was right at the upper AIQ band and the market looked weak. I like to buy and short with obvious sell or cover points. Anyway, I watch this stay green by itself all day Monday with big volume and no hint that the bid goes down. Finally, late in the afternoon, I decide it is not wise to hold overnight since a bounce on Tuesday could take me out if the market was holding TALK back. So, I covered at exactly 14 13/16 and in the last hour when the DOW dropped another 250 points, TALK went to 15. Sure enough, we get the bounce on Tuesday and TALK drops $3. Beats me. I realize your BBY luck was worse, but surely there is not another stock on the market that did what TALK did with no news.
Gary
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