Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Roger A. Babb who wrote (7334)	4/20/1998 12:47:00 AM
From: Don Roberts	Read Replies (2) \| Respond to of 18691

Roger, Do you want to see a classical bear trap in action? Check out the KTEL intraday graph on Friday Note the double top at 26 at 10:30. This is a bearish sign, and would suck in some shorts. The MM's then moved the price down, and kept it level to suck in more shorts. Then at 3:10 or so ... BOOM! They spike the price above 26 (previous resistance) to set off some short stops. The shorts cover at the end of the day, forcing the price up higher. Classical manipulation by the market makers. This is a good short on Monday ... it also got a bad write-up in Barrons this weekend. I agree that it is good long term, but short term (1 or 2 days), it is an obvious short. The shorts got squeezed which forced the price higher. As you know ... short squeezes rarely last. Cheers, Shortie