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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (19365)	3/10/1999 7:52:00 PM
From: Dave Shares	Read Replies (1) \| Respond to of 122087

Dear Anthony, RE: SEVL I think this is a textbook example of why it is important to phase in a short position, and to be careful not to go the whole shot at first. I was out of town today, and based on a reading of the chart on SEVL, I placed a limit order to cover at 5 7/8. While I suspect that you are right that it will go lower, these stocks usually do not descend back all at once. So I was fortunate and was covered at 5 7/8 early in the day. Because of phasing in, I was able to average in at $8.00, so this turned out to be a good trade, and I am glad to be out of the position, and will await another opportunity. I also saw that you covered at a good price, and based on your average, you did great and kudos are in order. As I was able to watch the stock, I had to set a limit and hope it would work out, and I was fortunate that it worked out for me, and I think most here did very well. Two points bear repeating (you have emphasized these before): Phase in a short position, to protect against a trade going against you (assuming it is an otherwise weak company due to reverse after news or other bs) Don't be a pig. Take a good profit when you can. I know that there are some "zero bid" prospects out there, but sometimes it is better to settle for a lot of good, solid base hits rather than trying to hit a home run. Most good home run hitters also strikeout quite a bit. As always, your willingness to share with the rest of us is greatly appreciated, and I have learned greatly from you the art of short selling. Oh, and I forgot to mention, sometimes, patience will be your best friend. Best wishes, David