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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: Migs who wrote (932)	7/21/1998 6:15:00 PM
From: Radim Parchansky	Respond to of 15313

After the news is released I'll buy 10,000-30,000 shares and wait for the price to start dropping after solid gain. So, for example the price goes to 2.5 and levels, I assume some profit taking will occur, then when the price drops 10-20% I sell my short position and wait for another dip. I normally sell 30% after 10% or so price drop. To give you real example: I bought LCOS at 60's several weeks ago, then when it started to drop from 107 (or so) to 95 I sold 30% of my positions, then at 85 I sold another 30% and holding the rest and now I'm ready to buy it back. For FNTN I'll use day trading funds to do the same and will sell 100% of short term position. To put it another way - long position is based on company ideas and short position is pure profit gains, the same as MM do (they don't know what the company does). I actually did the same with FNTN - bought at .45 added short position at .6, sold all short (30%) at .8, bought back at .6 and instead of selling added to my long based on upcoming news. If no news was expected I would sell at the first .1 slide after .8 was reached. My normal rule is to sell 30% on price decline (say 10%)and buy in 50% of intended investment. In this case if the price runs up to 8 I'll sell all short and 30% of long but if the price goes to 2.5 I just sell the short. All the above gives me good emotional backup I actually don't know if it's better then sell all and buy it back, when selling only 30% I'm protecting my gains and stay in the game and when buying in 50% I protected against buying when stock goes down after initial purchase. Radim