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To: Peter Church who wrote (78779)9/28/1999 11:17:00 AM
From: Eric Wells  Read Replies (1) | Respond to of 164684
 
Peter - on any shorts, I play day by day. I originally shorted EBAY at 152 and 160, covered at 141, shorted again at 141/142 and covered yesterday at 145 (too soon, and at a loss). With yesterday's mid-day rally, I mistakenly thought EBAY was going to go up, and so I covered - and the next time I looked at my screen EBAY was down to 140. I usually cover at max pain of 5 points - and EBAY was in that territory.

EBAY continues to go down (at 137 as I type) - but since I believe the market may rally this week, I'm going to wait before I consider shorting it again. I also mistakenly thought that CMGI might boost all the nets today - yet, that hardly seems to be the case since most of the nets are down (if you had read the posts on the CMGI thread last night, the exuberance might have led you to believe that CMGI was going over 100 today).

As for being reincarnated as a bull - I'm still very bearish on this market. However, I'm picking my positions carefully.

Thanks,
-Eric