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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Math Junkie who wrote (6379)	6/30/1999 4:50:00 PM
From: Greg Jung	Respond to of 15132

Party on dude, pass the Bong. We're gonna toke this market 'til October.

To: Math Junkie who wrote (6379)	6/30/1999 7:44:00 PM
From: Greg Jung	Respond to of 15132

<< What, are you short? <g> >> My brokerage account increased about 7% this pm. As the woman on TV says, "and I did it going long only". Under current conditions going short on overvalued stock is a losing game. They quickly get bid up so you end up with only short-term trades for profits. In a given issue, its Sell,buy,sell,buy, etc. If you remove the first sell then you're just a dipper like anyone else. So defined by that game I am "short" by not holding positions in crap like QCOM, IBM, etc. where price targets are bid up out of thin air. And requirements to hold a short are more severe, if the margin gets tight: For each point increase, your margin requirement increases by 3/2, whereas for long stock, the margin decay is 1/2 the price erosion. So you really need very deep pockets to average up and stay in the game - with such deep pockets why bother with all the grief?