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Politics : Ask Michael Burke
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To: BG Smith who wrote (61180)6/1/1999 3:10:00 PM
From: Earlie  Read Replies (1) of 132070
 
BGS:

I have been well served by exiting short positions when they take a big hit in a single day. The dippers tend to come in and buy even the dogs back up for a bit.

If RMBS sells off even more in the last hour today, I will buy back at least half my position, in the belief that I may be able to replace it on a bounce. Over the longer term, RMBS is likely to fall well below $40.

Best, Earlie
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