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Technology Stocks : Shorting YHOO -- Ignore unavailable to you. Want to Upgrade?

To: nlam who wrote (86)	10/23/1999 1:39:00 PM
From: Stephen M. DeMoss	Respond to of 108

We are not desperate concerning CSCO. It was a rumour late yesterday. If they were to miss, they are the internet and it would rock all bluechips including YHOO. They will probably not miss (IMO) BUT may bring up short term concerns like IBM did. Right now it is unclear which way YHOO is going. I tend to think down near term. 2 weeks ago all net stocks were down 10-20 points each. This week they tried to rally making higher highs and higher lows each day till yesterday. Friday they showed surprising weakness even at the peak of the Naz rally. INKT was downgraded and shed 17 yesterday. I am in a short position with YHOO because I know it tends to trend down the two months after it reports. I also see the general markets as very shakey and one announcement like CSCO concerned about Y2K or something could have YHOO shed 17 in a day. Right now the jury is out. I plan to close my short this coming Thursday at 2:30 pm unless it is clear that YHOO and the others are moving lower. My weekend target is in the 160's. If we are not there this coming week by Thursday, I am out. My average short is 180 and have had the position for almost a month. When a trade goes against me, regardless of my conviction that it SHOULD trade lower soon, I bail. Generally I like to go long the market between NOV. 1 and MAY 1. Short the market between May 1 and OCT. 29. So that is one reason I want out of this short this week. Steve D.