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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: american dreamer who wrote (311)	12/4/1998 11:12:00 PM
From: William Epstein	Read Replies (1) \| Respond to of 1989

american dreamer; Like Yahoo or Amazon.com? What I mean is, you see something that is at ridiculous levels and you decide to go short. The specialist or the MMs don't see it that way and drive it to even more ridiculous levels and you get wiped out before they drop the price.. Stitch was complaining today about just that kind of thing regarding WDC. He shorted at 14 and what is it now, 18-20? When it should be 7. Also, read something I posted yesterday #279, on this thread to Larry Kunznets. 85% of all shorts are done by the specialists or MMs. It is very difficult to go short unless your piggybacking on their shorts and even then you don't know what their timing will be for sure. They may decide to go up before they go down. They have 1/1000 margin requirement and yours is 1/1. So it is impossible to go against them. (subject of yesterday's post) I've tried it and it's especially bad on the NASDAQ. The impression I got was that they seem to know who all the shorts belong to. I could easily be wrong there but that was the feeling I got when I tried it on several occasions. One thing I'm sure of. Shorting was not created for outsiders like you and me but for insiders to conduct their businesses and their bull and bear raids. It is the major tool of the specialist and they guard it jealously. Still, I believe your right. There has to be a way to overcome the problems I've outlined. That's a worthy dialogue. PHOTOMAN