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To: Zeev Hed who wrote (203746)11/10/2002 1:06:47 AM
From: Israel  Read Replies (3) | Respond to of 436258
 
Why you and Ork are shorting a momo stock like EXPE instead of going after an easy agida-less IBM

Zeev, Im also short EXPE.. And If i recall, both you and LarryD were questioning the reasons behind me shorting EMLX in the high $30's mid $40's earlier this year when it was the momo stock of the day.. (beleive you guys also thought I was nuts for shorting KLAC in the 50's 60's around the same time).. And in the end I do believe I won that argument.. Having covered both EMLX and KLAC for nice profits..

Its simple as to the reason we're short this stock.. Its an overvalued piece of garbage.. Yes, it might have its day when its up $3-$4 points.. Or make its momo runs (as it has recently from $37 to $75+).. But in the end, we all know.. Even the 'momo crowd' will this turd will end up when the music is over.. Unfortunately, since it is a 'momo stock' when the music stops is anyones guess.. So all a 'position short seller' (not a day trader flipping 200 shares 30 times a day to make $500).. Is build his short as the insanity continues.. If one is patient enough, and well capitalized enough.. EXPE will be a sweet short to hold for 4-6 months..

Israel



To: Zeev Hed who wrote (203746)11/10/2002 7:47:33 AM
From: orkrious  Read Replies (1) | Respond to of 436258
 
you and Ork are shorting a momo stock like EXPE instead of going after an easy agida-less IBM, is beyond my comprehension.

Actually, Ork and I are one and the same <g>

I happen to be short both IBM and EXPE. EXPE should, as Gary B. Smith said, "go splat." I can wait it out. The sucker will more than get cut in half. I won't be surprised if the downward move has already started, since the selling pressure started right out of the gate on Friday.

RE your comment on the Sox not making a new low, you and I disagree. I think the economy is in much more serious trouble than you do, and I think the semis are more overvalued than any other sector. The combination is a recipe for disaster.