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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (49576)	5/6/2000 3:06:00 PM
From: GTC Trader	Read Replies (1) \| Respond to of 99985

Wow! Zeev, Thanks so much for the prompt, detailed response. You are amazing and very kind! Also appreciate your words of caution. I shorted AMZN very successfully three times last year, only to get creamed with one trade that went the wrong way and I was too stubborn to take my losses. I actually shorted it at $100 (pre-split)with a target of $80. It quickly dropped to $80 while I was on vacation for a week, and I was too stupid (greedy) to leave a GTC sell, thinking it might drop further. It was back to $100 on my return, and I insisted on "getting my profit back", so I rode it all the way to $180 (ouch!), but finally closed it at $124 (actually $62, post-split), so my losses were much less in the end, and overall I was positive for the four trades, but endured many painful agonizing days. It was NOT worth it. Hopefully I learned the lesson. Time will tell. (I seem to do best when I take my profits quickly. I seem to do worst when I let my losses run!) Take care and best wishes -- HB

To: Zeev Hed who wrote (49576)	5/7/2000 3:39:00 AM
From: GTC Trader	Read Replies (1) \| Respond to of 99985

OT: Zeev, As an exercise, I took all fourteen stocks you mentioned and studied the charts for what I felt was the key support line and ideal entry point. I made note of a few that looked most promising to my eyes. Then I checked on Datek and ten of them are not marginable, hence not shortable. I am now down to a list of four: A, AMZN (my friend), TRRA, and VLNC. I placed the limit orders so we will see if I short any of these. I promise to place buy stop orders if and when any of these positions are established. I will also watch IMMR for a chance to go long below $15. That would be sweet! (Would also like a piece of RMBS below $120!) Hopefully we will get an initial surge on Monday before the market turns down so that I can get at least a couple of these positions. Thanks again -- HB