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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: John F. Dowd who wrote (30447)	10/6/1999 1:53:00 PM
From: werefrog	Read Replies (2) \| Respond to of 74651

<Guys like Hardy always short and cover at precisely the right time. Guys like this are legendary. > Howdy Dowdy, you just amaze me. Actually it's when to short that I can get almost absolutely correct, it's the when to cover that is iffy. The Ballmer headline was a screaming short provided you got the news on time. I covered too soon, at 91 5/8, after holding about 15 minutes. The low was 89 1/2. Knowing the fed was to release news at 2:15 est, I was logged on to my broker, with MSFT, already keyed in to short, I got the news, and all I had to do was hit confirm to execute the trade, but I did not know which way to go. If the fed raises rates, go short, if they lower rates, go long, but the fed did nothing indicating a upward bias, so I did not hit confirm. I was logged into my favorite daytrading chat room and everyone was waiting to see which way the market was heading and after a minute or two, a member posted a trade, Shorted DELL - market is falling, at that time I hit confirm and my trade was executed. I actually would not have traded anything were I not logged into that chat room. I'm sitting there with 1000 shares of msft keyed in, ready to go, and I knew I would make, or lose, several thousand dollars in just a few minutes. I have actually went the wrong way on trades like this when I was learning. There are many people who trade stocks on news and most news is not expected, but in this case everyone knew when the news was coming out. The next fed meeting on Nov 16, I'll do it again and make several points in just a few minutes. Obviously, you have never made thousands of dollars in a few minutes, but if you ever do, you will not want to go back to buying 100 shares and holding for years to realize any meaningful profit. Cheers