Shorting stocks: High fliers Message Board

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Strategies & Market Trends : Shorting stocks: High fliers

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To: Q. who wrote (599)	12/1/1998 10:53:00 AM
From: RockyBalboa	of 709

That crazy... I sold short warrants at 16 and 18. Suddenly the stock faltered from 24 and I could buy back warrants at 16. Ups. (Yesterday I offered warrants at 11, but noone wanted them). Now the stock is 22 again within seconds the warrants at 17 and I'll sell some. But maybe buy stocks before. As long the prices are that high, there is actually no premium. Do you remember the last week when I found that barrons article (or WSJ) and posted it here, grumbling that it may be nasty for us. On the same day earlier, unwitting of the article, I sold warrants at 5 3/8 only to be stopped out at 6. But 17-22 I've never expected that (If I did, I was long bfly). A nasty short squeeze. Driven by the options? When people hastily box the with warrant. I see often that the option anticipates a price movement in this stock now. Now it goes towards 23 again,as it didn't cross the 24+ (the first top) I think it's time to sell (If the old mechanics work, which have been not working in AVCO or GMAI). Time to sell for me.. Although most of my screen is red, it is not that easy. C.

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