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Strategies & Market Trends : ZixIt Corporation (ZIXI) -- Ignore unavailable to you. Want to Upgrade?

To: Blue On Black who wrote (2391)	4/12/2000 12:19:00 AM
From: Jose Matos	Respond to of 4120

I couldn't agree more. Today there were several times when I was tempted to cover and wait to reshort at higher levels (again I kind of expected some late day rally). But as it slowly creeped up from 46 to 49.5, several times I began to enter cover buy orders, but reconsidered everytime. Good thing too. The reason was that I figured, "screw it, if it goes to 50 or 55, I'll just wait another few days". You're absolutely right, even if it gets a brief short covering rally, this thing doesn't have a leg to stand on. Especially now with the magnifying glass on valuations and fundamentals. Covering and hoping to short higher may be tough if it starts to crumble with no upticks to re-short again. Think about it, there are dozens of Major hi tech names that are down 60%+. This one is still only down 55% from it's high, and doesn't have nearly the potential to rebound as quickly as do quality names. Unless I find a better opportunity to put this money in, I'll hold this short till it hits the high 20s. Regards. jose.