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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: fuzzymath who wrote (32620)	6/3/2000 7:36:00 AM
From: Steve Lee	Read Replies (1) \| Respond to of 64865

I have never shorted SUNW or bought puts. The only position I have ever had in SUNW was long (last week for a few days) and was profitable. I agree that the trend is up for most stocks. I use the support and resistance levels, and stock action and volume at those points to decide when to buy and sell. You say yourself that a stock will often revisit a low, is that not testing support? Such a revisit is often a good time to load up, whilst the revisiting of a high can be a good time to unload. Another point to remember when shorting is that your maximum gain is 100% whilst your maximum loss is unlimited. In contrast when buying a stock long, maximum loss is 100% and maximum gain is unlimited. I believe we will see 70's again and some good profits can be had buying at high 70's and selling at high 80's. I also believe that we will see 100+ shortly but that we will then subsequently come back at least 20%.