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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (3466)	2/13/2001 7:05:42 PM
From: AugustWest	Read Replies (1) \| Respond to of 15481

Hard for a stock to go up when you have a short seller for every buyer. I will tell you this much. People were definitely shorting things em mas today. As TLC mentioned on RMBS, I noticed the same pattern on a number of other issues. First one, CIEN, which I shorted more today at 77. That one looked like it was getting a royal blanket party this afternoon. PMCS, sure looked like it too. That is the one that hurt. Shorters got even with me on that one. I bought it at 56 this morning and rode the mofo all the way down to 53 and 52 before I dummied up. I also got burned on arba-which again was my own fault, when I shorted cien, I said to myself, I said "self, get the flock out of your longs" but no, I had to lose a lot of money before that-I'm just spewing trying to make myself feel better. Anyhow, it's more than curious that a number of high profile stocks cut right through their 52 wk lows with out much resistance. If things do not firm up and fast, I wouldn't be surprised to see 2000(or even 1800)breached by Friday. Why they can't just let the market take care of itself is beyond me. The market always knows whats best for it. I'm not smart either. But the beautiful thing here is there is so much room for improvement<G> I disagree, I do not think the market knows what is good for itself. What AG was attempting to do I think is to slow us down(not cripple though) to provide the soft landing everyone speaks about. Well, I don't know what a soft landing is, technically. if you hit the ground, you are at bottom no matter how fast you hit. But maybe this is better(you SHOULD survive it) as it has given a good ammount of people time to get out or at least clean up their margin accounts. but is there anyone anywhere that doesn't really think that the market would have taken care of the bubble? Yes, the result would have been a crash. As it is, we are heading down into ugly, territory, but we have all had time to lighten our loads and not be kept up at nights because of our folios. If so, it's by our own doing. You can not say that you haven't considered or even loosened up on positions that were,excessive. Remember, expensive is still expensive If you go into a store and you see something marked down 50% you think you are getting a deal. Only until you realize that is was market up extremely high before the discount. And yes, I am beginning to drink heavily.