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Technology Stocks : AboveNet Communications, Inc. (ABOV) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (244)	4/1/1999 12:39:00 AM
From: Colin Cody	Read Replies (3) \| Respond to of 835

Tom, you missed MY point. Forgetting splits for the moment, I agree that ABOVE could drop from $350 to $200 in a heartbeat. I don't think it will drop from $130 to $75 very easily. $110? yes it could see $110 before the split. It could see $180 before the split too. who knows? $110 is a $20 profit for a short, $180 is a $50 profit for a long. I don't think the "odds" are such that a long position needs to worry about getting wiped out. Had I also shorted AMZN when I sold my position at $117 I would have been wiped out. There is HUGE exposure shorting a thin float stock. i.e. you shorted today at $127. Okay, but wouldn't it have been a better bet to BUY it at $114 in the morning and sold at $127? Or have BOUGHT it when I posted days ago what the CHART was guaranteeing us would happen? We are taking a virtual GUARANTEE of profits that I posted days ago, vrs what "logic dictates" "should happen". Only trouble - is you're GUESSING that $127 was the top. It might hit $150 before reversing and heading toward $110. i.e. the easy money has been made. Why dicker around trying to get the scraps when there is a huge risk of being squeezed to death? Entering a short position will in the middle of a huge bull-run - why you might just as well put your money on "the red" at the tables in Las Vegas. Colin