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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (18079)	5/7/1998 3:12:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 94695

Asnd: Well it was my very first short so I figured, better get burned and learn the Psychology before taking profit.<g> At least it isn't out of control like AOL, yahoo - that time passed in Winter '97 for the networkers. I'm looking for it to fill the gap at about 32. As a nervous market hedge that ought to do it if it can break below 40 again. Of course I figured it wouldn't get above 40 in the first place so my first batch was 37. Averaged up to near 40 and I might try to raise that in the 40-44 bounces. Still 2 parts long to one part short, but my longs have already been run over and shouldn't get much lower so I hope. BTW I shorted asnd as I went long FORE at 15, then increased that position just prior to earnings and left it at 24-e. So the initial position was actually an act of conservatism. I've suspended all sentimental attachments to long-term holds, save Cymer which I'm writing calls on. However this Y2k stuff seems muddier than I thought it would be (Viasoft). I think institutions are trying to ease out and not finding liquidity. Viasoft valuation is now reasonable as a software company, even, but 90+% institutional ownership and I suppose one guy decided to leave and the party collapsed. Greg