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Technology Stocks : ADSP - Ariel -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (2053)	11/30/1999 2:27:00 PM
From: Don Pueblo	Respond to of 2263

I appreciate that response, Barb. I'm glad you explained it to me, and I thank you for taking the time to do so. Thanks for taking the time to sketch it out for me. It's good that people are learning money management...as you know it is critical to success. Your scenario would have worked under the circumstances assuming the call to short "as much as you want" at 56 was put out when the stock was at 49, and there were shares to short. I doubt very seriously if too many people got a short off at 56 unless they had an order in before the stock broke 50 AND had shares to borrow lined up beforehand...but that is just a guess on my part. I have a good friend that trades like Anthony. He's a doctor, and he knows his stuff. He does really well most of the time. Last year he lost $120,000 in about a half an hour, but he was able to borrow some money and get back on his feet...it took him about a year. I hope that doesn't happen to anybody else that we know. All it takes is one time, and things can get very unpleasant. Personally, I myself think that adding to a short that has gone twenty points the wrong way is psychotic, but that is my style...not someone else's; and I would never in a million years have shorted that stock on Wednesday when it was obvious the MMs saw that a bunch of people on ISLD were shorting it big time. I've been there. I've done that. All it takes is one time, and you are dead. One time. I understand that as a CYA measure it's necessary, but there is no way I will ever get myself into a position like that in the first place, so I'm basically blowing smoke about it. I'm glad you made money on the trade...I calculated that about 325 million dollars changed hands on Friday on ADSP, so it appears that not everyone was as fortunate as we were. That money came from somewhere, and I really think that some of the people who were shorting it got cremated. Good luck to you, and thanks again.