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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (8939)	2/20/1999 7:54:00 AM
From: Dave Shares	Read Replies (2) \| Respond to of 43080

Tom, I have always felt that there is more exposure short than there is long. Long positions are exposed to a limit of the investment. Short positions have potentially more exposure than the investment. Yes, there are factors that could seriously impact a long position over the weekend. But what stays in my mind over and over again is what it must have felt like to those who were short XCIT and woke up to the buyout offer from ATHM. From 67 1/2 to 105. Nearly 38 points. BCST gapped 32 points over the 1/8 to 1/11 weekend, and actually rose 80-90 points that day. It gave back 60 points the next day. I'm not suited to watching that kind of swing with my money on the table. These are extreme cases, I admit, but it is obviously not beyond the realm of possibilities. I'm not sure I'd be that thrilled about holding one long over the weekend either. These stocks tend to scare me, I think that I can do a reasonable job daytrading them, but as position holds, I am not as confident. So, I guess I'm just speaking as to what makes me more comfortable as a trading style. David