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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: JoeinIowa who wrote (8169)	8/27/1998 11:09:00 PM
From: James Wright	Respond to of 29382

It pains me to say so, but I think ANLT is now a good short. I bought last week at 24 just before it started a steady slide down. Earlier this week it broke its support at 22 and I got out soon after. It now is down to 20 3/8. The current decline is not a sharp one day sell off (otherwise, I would have held), but the continuation of what appears to be a sustainable, steady down trend. I have a short sell order in for tomorrow, but will decide whether to let it ride based on pre-market activity just before the open. My other shorts, WAVO and DSET, have been doing well (or bad, depending on your perspective.) I still regret letting QWST get away after shorting at 36 1/2, covering at 39, and then watching it drop to 32 with a lot more downside potential to go based on the chart. My only long holding which held up OK today was SIRN (earnings due in the next couple of weeks). Otherwise, I saw deep red with THNK and NMGC -- however, THNK was a sudden drop and thus I'm not convinced it is entering a sustained down trend and NMGC is still in its recent trading range (although moving toward the lower end of that range). Thus, both are holds at this time, but this could change quickly. -- Jim