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Strategies & Market Trends : SPARKY'S CORNER -- Ignore unavailable to you. Want to Upgrade?

To: Gary K. Best who wrote (3595)	9/3/1998 12:57:00 PM
From: James Wright	Read Replies (2) \| Respond to of 4142

Here's what I've been doing to short stocks -- look for high or no PE stocks that have been on a steady down trend since the mid-July highs. Then short them when they break below their current support level. They may retest support (which then becomes resistance and offers some protection against having to cover at a higher price), but in this market odds are they soon will continue to drop. Anyway, its been working so far for me. Any ideas out there for short candidates using these criteria? I may be covering my current short holdings soon to take profits, and will need to find some more dogs to short. -- Jim

To: Gary K. Best who wrote (3595)	9/3/1998 6:31:00 PM
From: Bruce A. Brotnov	Respond to of 4142

Gary, there wasn't any better news for BBY than AEOS for example. AEOS was mentioned on CNBC with 29% sales growth and of course WMT and BBY only announced 22% increase and est for qtr is .16. AEOS was down 1 1/2 earlier in the afternoon and WMT was down quickly at open and come up 1/2 point a couple of times. I think BBY pulled a fast one by letting market bottom and then they opened about 10:10 as market was coming back from big down and with the gap up of $2 they must have managed to get fuel from short selling. It had quite a bit of resistance at 47, but no matter. I made 3 points on it Monday with the short and rode it back long on Tues but then it got even Weds and today. Oh well, should have been golfing I guess. I should have been long in my top rated stock AVEI as it was up over $4 today in spite of the down day. Watch for test of lows tomorrow in front of big 3 day weekend. Bruce