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Politics : America Under Siege: The End of Innocence -- Ignore unavailable to you. Want to Upgrade?

To: joseph krinsky who wrote (387)	9/12/2001 4:17:55 AM
From: OZ	Read Replies (1) \| Respond to of 27716

I don't see why it's necessary to short the market. You may make some money sure, but in doing so, your little profit may contribute to making a bad situation worse? Do you really think that the Pros are really eager to short here at this overextended down move and on a gap down??? There have been many stocks that have not been allowed to be shortaable. They could not be borrowed usually. Studies have shown that these went down much further than equal counterparts that could be shorted. Short covering is the catalyst that creates bottoms and it also provides liquidity where there would not be any. Who do you think will be buying your stocks when the market opens gap down soon and you are terrified and have to get out? Who else would be willing to buy your shares in this environment? The people that were already short before this event is the answer. You and the retail public seem to think that just because there is bad news that all one has to do is short a stock and they will make easy money. I dare you to short a stock on the gap down if it comes. The market will punish you (the herd) for selling during this bad news. It is those that are already short that will do more to hold things up by covering than you by preaching. The only ones being punished are the ones that bought from the shorts on the way up (the bounce) and not the companies after this new came out. The market really is quite efficient and not a place for such nonsense. Trading is to the markets what bacteria is to life whether you like the stuff or not. Oz