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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (3050)	10/22/1998 11:08:00 AM
From: Rommy B.	Read Replies (1) \| Respond to of 8307

LG, Thanks for the post. I already read the Ney article from your post yesterday. He was onto the psychology of the market movers very well. I actually have a degree in psychology and I find that useful every day I trade. Sometimes it seems even too uncanny, but if it works... As for stop-loss orders, that's not my strong area, unfortunately. Let me tell you why and maybe you or Kip or anyone else can help. I shorted today at 6 15/16 because I believe that within a week EGGS will be trading at the 5-6 range, at least temporarily (no offense to EGGS longs). I don't think it will go to 9 any time soon and neither do I believe it will get to 8 without quickly being shorted again. So if I set a stop-limit, say, at 7 1/2 and get stopped out, my best chances are shorting again at 8 if it ever gets there. But if EGGS briefly touches 7 1/2 and then goes down, then I lost. That's why I prefer shorting stocks that I have high confidense do not have much room to go up. And I figure that if I wait around long enough (a few weeks tops) my order will get filled. Of course, I will be watching the market closely, but I just can't see any reason for EGGS to suddenly take off and go way up. I remember a few months ago when we all shorted EGGS, who would have thought they'd be down to 5 within a couple of months. Even the thought of EGGS going down to 13 1/2 seemed foreign... Any thoughts or feedback? There's probably something that I'm missing. TIA, Rommy