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To: Rocky Reid who wrote (3450)	11/6/1998 10:33:00 PM
From: Cogito	Read Replies (2) of 10072

RR >>It's tempting to sell my $4 1/4 IOM buy right now for a 130% profit. But I have decided to stick to my original plan to bail 3 days prior to Comdex. My short at $5 3/8 is obviously not doing well, but I just shorted more at $9 3/4 to bring my short average way Up.<< Elaine - Yes, I guess it would be tempting to take a 130% profit. Except that you don't have a 130% profit, since you shorted at 5 3/8, thereby effectively limiting your long side profit to a little over a buck a share. Not that a buck a share is bad. But if you really believed the stock would continue to rise up until Comdex, the 5 3/8 short didn't make any sense at all. Likewise, the 9 3/4 short would have seemed like a very savvy trade, assuming it actually happened, were it not for the open long position. If you had bought at 4 1/4, then sold and gone short at 9 3/4, perhaps then it would have been time to get online and start complimenting yourself for your trading prowess. - Allen

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