Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (34594)	1/9/1999 11:43:00 AM
From: marc chatman	Read Replies (4) of 95453

<<Ride the Oilpatch Recovery and Short the Net with the profits...>> Only short the net stocks if you have the highest tolerance for pain and short term losses. Short 1000 shares of YHOO or AMZN only if you have the resources and the nerve to withstand several 50 point up days in a row -- i.e., hundreds of thousands in short term paper losses. A friend of mine and I were talking about shorting AMZN at about 120-125 PRE-SPLIT! We never envisioned these routine 50 point up days. We didn't do it, but if we had we'd be living in cardboard boxes today. Yes, the monster rally in the nets will end; it may or may not end soon; it will end badly. But unless you are charmed, do not short. If you must, go long puts. The premiums are ridiculous, so I don't recommend it, but at least you will have capped your downside.

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