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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: radames who wrote (22747)	7/8/1999 9:10:00 PM
From: Typhoon	Respond to of 27307

I must admit last night when I posted how I shorted YHOO July 180 calls naked for 5 3/4, saying that I thought the good news was in the stock, and that the numbers weren't blow out, and that it looked like the right shoulder of a head and shoulders top might be forming, I didn't expect things to work out so well. Internets were down, but bonds were up. That is not encouraging. I think we could be putting in a top, but I would be careful to give it time to form. They may run these stocks back up, but I would not count on them eclpsing their old highs, if they did I would cover. So I bought a few puts on NITE Knight/Trimark today. Aug 45 for 1 3/8ths. The most important thing I said last night was, how stocks react to news, specifically if they trade down in the face of good news, will be the true predictor of future price action. Yahoo's sell off today suggets that we may be entering a new period where the inevitable upward thrust of internet stocks on ever bit of news crashes into the reality of a failure to rise with good news and their inevitable decline as decelerating earnings lead to the unwinding of one of the greatest bubbles in Wall Street's history. I might buy puts on amtd, egrp, aol and amzn over the next few days. I am good on the short side, you might see my post on nite on May 29. But before I sound too pompous, I lose money just like everyone else. It just feels like a bubble, and I have been through these before. If you feel that you are just hoping for your position to rally back so you can get out, you're already in trouble. Sell half. However I suspect that most of you won't sell because you don't want to take the loss and your arm is in a meat grinder and you don't even know it. Cheers. BTW long NOK, MSFT, EMC and cutting back