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To: JimC1997 who wrote (10265)	1/28/2000 11:49:00 AM
From: J.N.N.	Read Replies (1) \| Respond to of 18366

Excellent post. I guess we should all be happy when the shorts are boasting about covering at $12. That's a nice 600+ % gain for most investors in under a year. Not Too Shabby. And I think the best is yet to come.

To: JimC1997 who wrote (10265)	1/28/2000 6:11:00 PM
From: chris431	Read Replies (1) \| Respond to of 18366

Jim, I'd have to disagree with the assessment that short term price fluctuations are irrelevant to a long-term strategy. Price fluctuations can allow an individual to change his position in his/her long-term strategy. "Buy on dips" being thrown about recently on this thread is a rather common occurrence. Furthermore, an investor who risks timing price fluctuations can be greatly rewarded by being able to acquire more stock than they would have otherwise had due to limited capital. Perhaps, we are not in disagreement but are defining words in a different manner and scope. Secondly, the closing of a short isn't necessarily an endorsement of the company's value. It can be one of several things including the belief by the short that the decline in the stock will now proceed at a slower pace or that the stock may rebound to a higher level where they may short again. The only instance where closing a short position may suggest an endorsement of the company is if the short has unlimited capital (such that there is no need to move the capital elsewhere for higher returns, since he/she has the extra capital to put the desired amount of resource anywhere and for any amount of time). For example, I went long on ALTR @ 60, sold at 70 1/4 a few days later. I then shorted it at 70 1/4, covered the next day at 67 1/4 and re-shorted right before closing the same day at 70 3/4. It was a trade based not on what I think about the company, but what I believe about the companies stock. It's now trading in the low 60's and I don't believe I will short it again b/c if it does continue downward, it may do so rather slowly. In fact, I may go long on Monday, but not for the long term. I write this not to be contradicting but b/c I enjoy your posts and responses. Chris P.S. I had no other motives in listing my ALTR trades. It was a quick and easy example to demonstrate my point that the movement of short term capital often suggests nothing more than that a person believes they can put their assets elsewhere and get a higher rate of return.