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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Ploni who wrote (5148)3/17/1998 6:30:00 PM
From: Roger A. Babb  Read Replies (4) | Respond to of 18691
 
Charles, you know the bulls are running wild when news like the following makes a stock leap up:

Chase Manhattan Bank Corp (CMB - news) jumped 6-7/16 to 134-3/4 after announcing it would cut 4,500 jobs and take a $320 million net charge in the first quarter.

I am old enough to remember when announcing big charges and layoffs would cause a stock to go down. Now the ultimate play would be to layoff everyone except top management and write off all assets as management bonuses, stock price would go to the moon for a company that tried this!



To: Ploni who wrote (5148)3/17/1998 8:23:00 PM
From: gaohong xie gary Xie  Read Replies (2) | Respond to of 18691
 
Charles, I am almost sure ZONA will be stopped at 24 1/2, if I could
get some money, I will short the sucker at Friday or tomorrow.

I am not sure BFIT will stop, looks like still has buyers. BFIT
really strong today. ITWO/SEBL are way overvalued, but I learned
my lessons in short ITWO, based on valuation along is a long term
short. Those high fliers are the best short when had runups.

Tomorrow will be good for us, shorters. Good luck.


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