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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (51)	2/23/1998 12:29:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 4634

I have not covered my Yahoo short yet...however... I already stated on many occassions that I was wrong to short it so early. I've simply been averaging up (I shorted shares as high as 68 - 70) and selling far out-of-the-money puts as a hedge. I never overextend myself on a short position. Yahoo could be trading at 100 a share now and I could still comfortably sit on it as long as I was confident that the fundamentals and the stock price were wildly out of whack. Eventually, Yahoo will trade significantly lower. I consider ATHM a very different situation than Yahoo.