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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (17014)1/13/1999 8:29:00 PM
From: Timoteo  Read Replies (1) of 18691
 
FWIW-I do think the momentum is waning on the net stocks. It was clear to me by watching the price action that it is individual investors sustaining these stocks. Even in the frenzy periods it was 200 or 300 share orders. I covered my AMZN short @ 150 for a nice 40 minute profit because I cannot watch the market tomorrow (unless we have another snow day:), but I expect any positive rebound to be weak and another end of day selloff. All the "good" news is out about YHOO, AMZN is still above 400 pre-split which puts it in no-mans land IMO. EBAY has no institutional buyers. When the shares unlock I expect a split announcement to try to boost the share price but then, let the selling begin! I don't like being short overnight these stocks, but I would never be long.

Best,

Timoteo
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