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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies
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To: JEB who wrote (45838)1/22/1999 8:43:00 AM
From: Kevin McKenzie  Read Replies (1) of 119973
 
7.Successful traders are not afraid to buy high and sell low.

My interpretation was that there is often money to be made going long on a stock that is at or near a 52 week high; conversely there is money to be made on the short side of a stock that is descending toward its 52 week low.

For example, many thought the internet stocks seemed to be peaking a year ago, and so these investors avoided such stocks. But the stocks have continued their climb. The same was true of some of the blue chip tech stocks like Dell and Microsoft.

On the short side, many people started buying oil field service stocks a year ago, because "they couldn't go any lower". But I bet some prudent traders have made money on the short side of this beaten down sector.

That's just my interpretation.
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