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Non-Tech : E*Trade (NYSE:ET)

ET 16.97

+0.4%

Jan 9 9:30 AM EST

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To: Peter Church who wrote (6558)	5/25/1999 9:40:00 AM
From: Cosmo Daisey	Read Replies (2) of 13953

PC, I short stocks as part of my overall portfolio management. However, the most common mistakes novice shorters makes is stock selection. The reasons they use are: 1. The price is too high. 2. It has to come down because it went up so much. 3. I didn't think it would go any higher. I gave a talk at an AAII meeting and during the break an investor came up to me and asked what I would do with his short position in MSFT, he was down $250,000 at the time. I asked what reasoning he used to put the position on and he said "it's so high I didn't think it could go any higher" I said I would cover, he said he would hold the position and I am sure he is broke by now. I don't think E*T is a good choice because the only reason to short is because its so high, a losers excuse. cdaisey

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