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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (521)	9/25/1999 11:49:00 AM
From: Don Pueblo	Read Replies (1) \| Respond to of 9427

All I know about PHCM is that it had a gnarly short squeeze on Thursday...and the market was down. Who do you think gave the stock to those pebbles that were forced to cover? You think maybe that same dude might still be long? What happened on Friday afternoon? Hello... On Friday, it closed higher after running HARD late; at an all-time high, and the market was down again. If you were a bonehead trader and were looking for something "strong" over the weekend, what would you throw your money at on Monday? <G> I've noticed a short-term pattern with stocks that experience massive short squeezes and then close at an all-time-high, ESPECIALLY on a Friday. See if you can guess what it is. <G> If I were going to short that stock overnight on a Friday at the all-friggin'-time high in a down market in maybe the middle of a short squeeze maybe, I would NEVER put the call on the Internet. What if I'm...uh...wrong? I'd look like a complete idiot! Doh!<G> And, there is something about shorting a Nut stock at an all-time-high in the first place. A jungle style bookseller comes to mind. Sometimes the next day is a new all-time-high. And the day after that. So even if I luck out this time, I will eventually get crushed. Like, what's the point? <G>