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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Instock who wrote (26303)4/1/1999 3:09:00 PM
From: just bearly  Read Replies (1) of 122087
 
Covered MZON at 14 7/8. I think it will still go down. After watching every darn tick of the stock today, I feel confident saying it is weak and there are no buyers. The buying that occurred today was short covering pure and simple. I also think there are folks out there who still want to get short as evidenced by the number of shares that popped up for sale on Island whenever the stock moved up an eighth or so. The daytraders are done with it, and probably won't even remember the symbol by Monday. IMO
I covered because this was my first short, and I still have a low nerve threshold for them. I didn't want to spend my holiday weekend being anxious due to my inexperience. I also covered because it reached my target of 2 points. I really wanted my first short to be a positive experience, so I wasn't trying to get as much as I would if I was a veteran.
Have a nice long holiday weekend everyone!
Tara
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