To: BRANDYBGOOD who wrote (73692 ) 11/29/1999 7:09:00 PM From: Jenna Respond to of 120523
ALLR..I think is pretty nearly improbable to hold through 10-14 point down swings. I never even expected ALLR today, I thought I missed the boat when it was up over 12 points so I just put in a buy limit and it hit. I do it with PPRO, SDLI, (missed with ZOOX), ASKJ (just short), etc. Or maybe they are holding just a little bit, but it goes against my risk management to hold more than 4-5% (and that's with a profit)and up to 7% loss with a much larger profit. I get e-mail about CORL, ASDS +26% today alone, EIDSY, INTU, AUDC,ASDX, SDLI, IONA, QLGC on how I should be careful and should be short DAYS before they even showed signs of slowing. Sure eventually they go down, but if I'm getting e-mail I'm guessing these traders are already short and the stocks keep climbing. Don't the shorts realize we have the 'smarts' to go short when we feel they have spiked up way too high? We might miss a few points here and there but generally I've usually (except INTU, ASDX) gotten most of them up and then again down. I don't feel these stocks are shorts for more than a few sessions but that the 'buying on dips' crowd are waiting in the wings for the first opportunity to go long. I saw it in ZOOX this morning. It was down about 2 points for all of a few seconds and started its way up very quickly, barely giving me time to cover. Then ZOOX is up 25% and closing near the day high. So what happens to those diehards who insist it is overbought, overextended or overinflated? either they get with the program, lift up their hands in defeat very early or endure the dire consequences or an irascible and stubborn attitude. Hey when I'm wrong, I'm gone, I won't argue the point or stay around for any challenge. I think SIFY, NTAP and HLTH need a small 'puncture' but if I'm wrong tomorrow morning, I'll be out of the short like greased lightening.. I'll never change the strategy because I think although it needs work its better than the 'short till it dies' strategy... because they just don't die but resurrect themselves from their own ashes like a Phoenix... My style is still the 'short term shorty short'.. and I still like all my shorts as eventual longs and vice versa and NTAP was one of my favorites and I'm still short.