Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Dr. Seuss who wrote (2749)	9/8/1998 11:05:00 PM
From: virgil vancleave	Read Replies (1) of 18998

If early trading in overseas market is any indication, it looks like tomorrow will be back down. We had a nice short covering rally today. At 1pm, lhsg was at 50 7/8 and looked weak. I went back to work and when I got home was quite surprised. My puts definitely went down in value, but at least they are for oct. I am hoping what we had is a short covering rally and maybe now I can borrow shares since that is why I owned the puts. One other point is we are right at the 30 day mov average and a large resistance area but that don't mean much for lhsg. One thing for certain, this one can go down 10 points just as fast again. What concerns me is the weakness in the industry group. bill and savly to be specific. Usually weakness has a tendency to spread. Insiders still selling in droves and it will more than likely continue as they still hold lots of shares. just my opinion. good luck

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