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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: Randy Ellingson who wrote (13274)	1/15/1998 1:02:00 AM
From: craig crawford	Respond to of 45548

<< So are you short them tonight? No, you covered at 60, is that right? >> I covered at 60 after shorting at 65 and then at 62 5/16. But I re-shorted at 62 7/16 and 64 7/8 so don't feel too sorry for me. << Probably good that you did. >> Why? Because estimates were for 3 cents and they made 5? Big deal! When you short companies trading at 60 times sales and a PE of 1000 you don't short them because you expect them to miss estimates. I am shorting it purely on valuation. When I short stocks as expensive as YHOO I don't get fancy trying to pick a top. I just short a few hundred shares so I don't get a margin call if it triples, and then short more on the way up. Let me give you an example. PRST (pre-split) went from single digits to 200. Who cares if you shorted it at 100, 150, or 200? It eventually came down to less than 40. How about IOM? Went from less than 2 to 55 (pre-split). Who cares if you shorted it at 35, 40, or 55? It still went down to 12 or 13 before recovering. I could go on and on with examples like these. YHOO is the same story. If YHOO climbs 13 points tomorrow to 80 I will just chuckle and short a little more.