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Strategies & Market Trends : Want to make $1000 a week trading.....I'm going to try!!! -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (47)	12/8/1997 2:53:00 PM
From: Lucky	Read Replies (1) \| Respond to of 1100

News is becoming history as we speak.A favourite play of mine is to sell after good news as typically buying frenzies cause the stock to overshoot it's mark.These overbought conditions ala ALTN always lead to a profittaking stage a few days after. Volume is decreasing in ALTN leading to a downward shift in the momentum as those buying on last weeks news are near done buying. I typically look for stocks that are ready to enter the selling stage that preceeds consolidation after a recent runup.ALTN fits here even though I jumped the gun a little early last week and went short at 8 1/8.Today I shorted more at 9 to average up. One thing unique about shortselling is that you are always in a losing position at the beginning of your short because you can only short a stock on an uptick and thus an uptrending stock usually. Lucky.