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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (47713)	12/16/1999 9:08:00 PM
From: Fiscally Conservative	Read Replies (2) \| Respond to of 122087

Hiya Anothony, I got burned today with PERL. I was Short 2000/shrs at 13 3/4 coming into today. With my job and all I could't keep pace with the activity in the stock enough to make the right call,not that it would have matter too much. I called the broker at 9:45 to get an indication on the stock. He told me the stock had been halted. When asked what the last price was he told me 15 13/16 with 145,000 traded. Soooo,I got to thinking....and did some more thinking. I again called the broker at 10:25 and found out PERL was still not yet trading. Now,the panic starts to set in. I am thinking that a limit buy to cover is in order but not knowing what possible news,how much of,and the markets reaction to this would do to the Bid at the open,I really was in uncharted waters. So,I hung up. Now I am thinking too much and, you know, the thoughts are not good ones. I was able to call the broker again at around 11am and he again told me it still was not yet trading. I am thinking with my luck this thing will open at 20 and run and I won't be available to make a phone call to get out of the position. My job does not allow access enough to a phone. My thoughts were I better guess a limit sell price to get out or forget about the stock and wait and take my chances later. All of a sudden the stock started trading while I was still talking with the broker. He tells me it is 17,and there is alot of News. I tell him to cover at market. He does. I get out at 15 1/4. What! Fifteen and a quarter!! I realize the streets reaction to the news is very good and then suddenly becomes negative. Wow,now I am thinking that maybe I don't have the emotional sentiment for shorting. All in all I guess I was lucky. Things could have been much worse. This stock is still overvalued but I am not in a postion to argue,lol Sorry this post was so long! PS: You do a great service. Thank you. Although I did not do great this time,I have no-one to blame but me. I will catch the next one!