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

To: Roger A. Babb who wrote (11332)	7/10/1998 1:30:00 PM
From: Kip518	Read Replies (1) \| Respond to of 18691

Now that the "portals" are losing air, the "nuts" have moved on to EGGS. No end to the craziness in sight.

To: Roger A. Babb who wrote (11332)	7/10/1998 1:41:00 PM
From: DragonBoy	Respond to of 18691

Roger, I am with you shorting this Amazing Dog. But Zitl dog will come back, so watch out!.

To: Roger A. Babb who wrote (11332)	7/10/1998 1:46:00 PM
From: Daniel Ray	Read Replies (3) \| Respond to of 18691

And please remember AMZN was at 42 five weeks ago . . . at these levels it is still up 150% in a little over a month . . . not exactly what I would call a downtrend . . . granted the run-up has been fueled by rampant speculation and a short squeeze . . . I remember looking at AMZN oscillate between 27 and 34 (split adjusted) a few months back and thought to myself what 'free money' it would be to short at 34 and cover at 27 a few times . . . Guess what? The argument for shorting AMZN was identical to the argument for shorting it at 100, 120 or wherever. But vegas-style shorters who 'knew it had to come down' are by and large very poor right now, bought in and broke. Guys . . . I share your long-term outlook for this one and other hype-driven stocks, but short-term it is still in a massive uptrend undergoing a short consolidation . . . for anyone shorting this one without a 'large and strong portfolio of quality stocks' (and by this _I_ mean seven digits in low-risk securities and cash!) please be quick to take your profits if you have any. . . . Shorting this market is still a short, short, short-term strategy IMO, unless you are really, really, really able to stand 200% and greater paper losses for _indefinite_ periods. This means it is a daytrader's market for shorters. IMHO only of course. And remember the mantra of the daytrader: close all positions before the close! This means taking losses even when you 'know' it will turn around tomorrow. All cash at the close. Easy to say and hard to do. No one can predict the future, all we can do is play the percentages, but the roller coaster ride ain't finished yet and Wall Street takes no prisoners. Extreme caution advised. Best wishes and happy investing (and please don't gamble the rent money shorting AMZN no matter what.) p.s. no position in AMZN d.r.