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Strategies & Market Trends : The Art of Investing

PICK 51.25

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Dec 31 4:00 PM EST

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To: Cymeed who wrote (692)	5/18/1999 8:50:00 AM
From: Sun Tzu	Read Replies (1) of 10714

>> Part of the reason AMZN is trading so high is because of the shorters who lost their shirts on it You are absolutely correct here. I think most of the gains in the internut sector have been made on the back of the shorts. However, there is a seachange at work here. To begin with, I hardly know of anyone these days who is willing to short an internut. This in itself is a good contrary indicator to short them. Furthermore, many brokerages are asking for large margins to go either long or short the internuts. This limits the buying power of the general public, who has been the main participant in most internuts. And thirdly, given that these stocks are not moving any higher (and in fact are going down), deminishes the reasons to hold/buy them at the moment, especially since most internut investors are pure momentum traders (at least the ones that I know are). Personally I am seriously considering shortin the internuts after the option expirey. I don't recommend this to anyone though. ST

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