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Technology Stocks : IFLY - travel sales on the web pure play -- Ignore unavailable to you. Want to Upgrade?

To: Kevin G who wrote (421)	4/14/1998 5:08:00 PM
From: Jeff Briley	Read Replies (2) \| Respond to of 4761

I covered my short position in IFLY this morning, but re-shorted it near the close based on its action. It closed at the bottom 10% of its trading range after a peak volume day last Thursday. I am doing a study where a close in the bottom 35% of a trading range after a big run-up and peak volume day is a bearish signal (time to short). If my theory holds true, it should gap down and take a pretty nice dip in the first half hour of trading tomorrow... Yes, this has been a great stock and nearly all of us made some great money on the long side, but don't let all your profits slip away from you. If you really like the stock that much, buy it back in a couple weeks at cheaper prices. Many of you are comparing this stock to PTVL. The criteria used in this comparison is debatable, but one fact holds true: PTVL wasn't a ten-bagger in one week. Stocks just don't hold these types of gains short term. Jeff