To: SMALL FRY who wrote (82690 ) 2/11/2000 3:29:00 PM From: Jenna Read Replies (2) | Respond to of 120523
Still long RNWK puts, QQQ puts. Still short WGRD and NEWP, which is way down from highs of the day. Stopped in before market closed to sell SIFY position. As it still did not drop and hold below of 45% mark, I'm not short yet. Already closed SIFY long. Gang, I would not be looking for bargains in this market... Its best to wait till Monday and go with the trend. As I said on the watch list, there was an imbalance in the market and this correction was inevitable. You didn't need to a be a 'short expert' to see the writing on the wall. Holding mid term positions but out of trading portfolio except for shorts. With 56 big blocks I would still be closing LTXX at this point. A lot of my favorites have actually moved up like IONA, ZRAN, OPTK but today I was mostly a 'window shopper' not a buyer. GMST pulled a fast one on me, moving down some yesterday enough to stop me out after a double bagger and today its up 11.50%Watch List February 11, 2000 Many equities in the technology sector are overbought yet the Dow is looking oversold, leading to an imbalance and that means ...volatility... Stocks like Colgate Palmolive have showed increasing volume during late hour sell offs which is the opposite of what you want to see. These were also big blocks indicating perhaps that institutions were unloading blue chips. In such a situation I would look to tech stocks that are showing reversals, not overbought. I also like some foreign issues and we saw how good SIFY was on Wednesday and Thursday. In the biotech sector, we are looking for stocks that are in the midst of great momentum. GNLB, NOVT and ISIP seem to answer this criteria. NOVT is reporting on the 15th..Learning Tree said fiscal first quarter earnings nearly tripled.