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Strategies & Market Trends : The Art of Investing

PICK 46.91

+1.6%

Nov 12 4:00 PM EST

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To: Sun Tzu who wrote ()	2/11/1999 4:53:00 PM
From: Sun Tzu	Read Replies (1) of 10563

Remember how I said shorting is such a deadly game. Well, today, the unweighted average of my 13 short picks from Tuesday, jumped up by 13%. My number two pick leaped forward by 42% while my first pick gained 4%. Keep in mind that when you short you put down only one third of the price, so you should multiply these numbers by 3 to get the magnitude of the real loss, i.e 12% to 126%! and on average 39% loss. The difficulty in shorting is that you have to be patient for the right moment, be flexible to cut losses fast if you misjudged, and be quick to jump in once you (think) you've found the right moment as it will not last long. I must admit that it was more a matter of luck and less a matter of skill that saved my rear. Though given that on Tuesday I expected a ralley yesterday (which obviously did not happen) and then I decided that there should be a bounce today, I did not rush in to the position. Sun "saved by the bell" Tzu

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