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

To: put2rich who wrote (12988)	8/19/1998 5:02:00 PM
From: virgil vancleave	Read Replies (2) \| Respond to of 18691

I did in fact short lcos today. at 68 and change. Not sure where it will go tomorrow. I see lots of weakness in the market. Not only that, there are quite a few who expected them to post a profit (whispers) when they in fact posted a loss. the valuation is quite ridiculous as lcos is trading at near 17 times revenues based on this quarter. Add to that, yhoo is the leader in this industry and their performance lately has not been impressive. Stock has had quite a runnup just before earnings also. a week or two ago, it was at around 50 and people were throwing in the towel. as for the market, more and more leaders are falling by the wayside. lbor and gva bit the dust today. intc, which had been strong looks negative now. Even dell retreated on the day. If you shorted it at the open, you made money. Looks like the time to be short is now. decliners led advancer by a 3 to 2 margin and new lows outnumbered new highs by nearly 9 to 1. These statistics speak for themselves. good luck.