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

To: Don Westermeyer who wrote (16775)	1/8/1999 7:02:00 PM
From: virgil vancleave	Read Replies (3) \| Respond to of 18691

Many of the internet stocks had their largest volumes ever the last few days. That, with the exceptional gains and the overinflated expectations, just means that the bubble is about to burst. Can't help but notice that amzn was closing down strong late in trading as well as many of the other internet stocks. Appears that we might have some consolidation and even a correction soon. I for one have now opened a short position in lcos (couldn't resist) and have some puts in lhsg (non-internet but overvalued at 21 times sales). I am still net long on a few other stocks, most of them medical and one semiconductor/electronics company. the "froth" in the market is just too much. I for one expect a correction next week. Take a look at asnd chart. It could be a potential short candidate as it is near its old high. Or on the other hand, it could be the time to be long if it can take out the resistance. It has done the retest of the old highs twice in the last 5 years and fell back both times. Obviously, this last time it went all the way into the twenties. just my opinion. good luck