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To: hdl who wrote (150010)	12/29/1999 11:12:00 PM
From: TigerPaw	Respond to of 176387

I shorted qcom at 592. Ouch! - There is a lot to worry about with the stock market gaining so much all the time, - BUT - This is the midst of the greatest stock market gain of all time. Why in the name of the green grass are you shorting anything???? Second of all, why short industries that are growing???? There are plenty of industries that will be tried and fried by the new information age, if you must short then seek them out and short them. The U.S. hasn't even gotten HDTV yet. There is an enormous, stupendous, gargantuan amount of technology to be unleashed on the world before this industrial phase is complete. If you are going to short (Without good, temporal information) then at least choose the parts of the economy that are going out of fashion. TP (Who can understand putting money in the mattress, but betting against change?)

To: hdl who wrote (150010)	12/30/1999 7:37:00 AM
From: GVTucker	Respond to of 176387

OT hdl, RE: I've been burned betting there is a bubble about to burst. The Nasdaq has gone to 500, 1000, 1500, 2000, 3000, and now over 4,000. A couple of weeks ago it had a PE of 164. It must be 200 now. I shorted qqq at 168 and now the same enormous amount of shares at 182. One of the primary rules of shorting stocks is never, NEVER sell short a stock for the sole reason that it is overvalued. Overvalued stocks can get more overvalued, absurdly overvalued, as we have seen this past year. Note that this is NOT unique to the current times. Selling short demands both overvaluation AND a deterioration of underlying fundamentals.