Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Druss who wrote (15442)	11/13/1998 1:52:00 AM
From: peter michaelson	Read Replies (1) of 18691

Druss: I shorted KTEL too way back when, and was down a hefty percentage for some weeks. Ended up making about 50% return in three months. Now I'm having the same situation with Amazon. It may take 3 years, but that price will get down to $50 or lower. If it takes 3 years, I'll have earned 33% per annum. Not bad. AMZN hit $145 in June?, declined to $65 in early September, and doubled back again since then. Sure, I wish I had covered at $65, but I was waiting for $50. I can wait. I just don't see a prospect for the fabulous earnings which will, at some point in time, be required to support the share price. The same, I'm sure can be said for many other internuts. Peter

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