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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: horsegirl48 who wrote (7674)	10/12/2000 8:51:22 PM
From: Boplicity	Respond to of 65232

No way! Shorting is pros! Like coco pops. <g> Ok Ok I'll let my ego get in the way. I laid out GMST yesterday. GMST was having a hard time getting over 90, repeated attempts but failure each time making a double top. stockcharts.com[L,A]DBOLNYMY[DD][PC25!C50!C100!C200!F][VC60][ILB14!LF!LG!LJ[$SPX]] Once it broke out of the lower trend line and moved past 67 it was a short. I said it would go to lower 50's it did and bounced, that was a short covering bounce. Right now I would watch it to see if the lower 50's area would hold, if it didn't I would short it again since 46 is minor area for support, for the move to the spring lows. YHOO I reentered into today. Plug in YHOO, here I will do it for you. stockcharts.com[L,A]DBOLNYMY[DE][PC25!C50!C100!C200!F][VC60][ILB14!LF!LG!LJ[$SPX]] See how it move past the spring low, fantastic time to short a stock is when it can't even hold a low of the year. I was watching and waiting for earnings to reenter and to see if the 58 area from last year would hold, many investor bought then. Earnings came out the story is fully know and boom they sell it off more, so I enter into a short after seeing that area fail. You have to remember not long ago, we had bull runs <gg>, and it was easy to make money, you almost had to be brain dead not too. Now we are having bear runs, it's a harder since bear runs are shorter, but still it has been easy time to make money shorting but it should only be done by pros, gamblers and traders. We are too close to a possible bottom for anyone to try to learn by doing now. Here is another one this one came to me via Bull Market Report, which by the way sounded the most bearish I have ever heard them, and I have known those guys for years, they might have to change the name to bear market report. Might be a good indication of a bottom coming too. :) PVN stockcharts.com[L,A]DBOLNYMY[DE][PC25!C50!C100!C200!F][VC60][ILB14!LF!LG!LJ[$SPX]] Notice the tight consolidation at the top that's distribution. Meaning buyer and sellers are matching trades. Now notice the high vol. spike to the downside. I scratch my head, and wonder, hmmm Now what caused that spike? I like to have a reason to enter into a play not just some darn wiggly lines. Here it is.. <<10/06 14:28 Credit card issuers fall on economic slowdown fears NEW YORK, Oct 6 (Reuters) - Shares of credit card companies fell sharply on Friday on fears of an economic slowdown and a downgrade from a leading analyst. The sector's fall was led by leading issuers Providian Financial Corp. <PVN.N> in San Francisco and Capital One Financial Corp. <COF.N>, whose shares both fell about 10 percent by mid-afternoon. Fears about whether an economic slowdown will result in a recession, which would push up default rates, drove shares down, said Robert Napoli, an analyst at ABN Amro Inc. "Credit losses are probably going to go up next year from this year," he said>> So a downgrade and more important then that and real live worry, a slowing economy. So I shorted as the lower channel of the up trend was broken, that was yesterday. HD and the rest of the retail sector are verifying the worry also today. Not to mention Corporate America warning one by one. Nothing better then having verification of play by other sectors. SO there it is. Three cases all at different stages in their down fall. My one and only time I will talk about shorting. yorgerg