To: Ga Bard who wrote (4453 ) 7/28/1998 9:09:00 PM From: Zeev Hed Read Replies (1) | Respond to
GB: No, I am not short HEC, AND or IELSF, three issues on which I have been negative recently. You could say that I have a "small program", I have seen too many SI'ers loosing their shirts on these floorless in the last two years, and it seems that the "wunderkinds" on the Street are using these nefarious instrument more and more. When I see one of these, and I have the time to study it, I'll post and try and explain to the readers the down side. Posters on IELSF became very upset at me when I sold a long position, once I discovered that they had a hidden floorless. They would not listen when the stock was at 4, when the stock was at three, it was basing, when the stock got to 2.5 it became a "great buying opportunity" and the stock hit 1.25 today, this is less than 30% of its high. When for god sake are people going to recognize the pattern? Roger Babb, an agile shorter by his own reckoning, has started to target floorless as shorts, and he is absolutely right, it is like shooting fish in a barrel. Off course, he was (jockingly, I hope) upset when I pointed this fact to him (G).
