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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (11441)	12/14/1997 1:30:00 PM
From: Joan Osland Graffius	Respond to of 18056

Barry,>>why short a stock that has already broken down considerably? Good question. First of all I use Weinstein's strategy for shorting. I want to make sure a stock is somewhat broken before I short. Less risk and I use stops at points that look like a breakout on the upside. Cut my losses. I keep lowering my stops at potential break out points as the stock declines so I am assured that I take home profit. Now specifically in MU's case I already have a short position for a given $ figure. It looks to me like MU is in more trouble than ever before and I will short for the same $'s. I look at it a % gained, not points. If the stock goes down 10% from here I will get 10% on my new investment. BTW, I shorted it when it broke it's 150 day moving average, the stock had met Larry's criteria, new monthly, weekly and daily lower lows. Joan