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You aint seen a crash yet, but you can bet it's comin'
There are so many shorts now piling on to this ridiculous Nasdaq, due to the
assinine valuations still prevalent in the veneer companies that make up the
index, any kind of reason could propel the index up 150+ points, as the
shorts run for cover.
The recent downtrend leg has gone about 2,000 points, and has lasted about 3
months. I wouldn't be surprised to see a short term sucker's rally before
we resume the long bleed south. The safe(r) place to take advantage of the
horrible fundamentals and add pressure to the bubble-that-Greenspan-built
is to short individial stocks. Especially stocks without massive short
interest.
The more fundamentally ridiculous, the more shorts that have already piled
on, and the more likely it will jump on any construed news and CNBC hot-air
and spin.
A few short selling candidates to take a look at:
BBOX - Black Box
HDI - Harley Davidson, 40+ P/E ratio, selling motorcycles for $20K and up
to a demographic that is likely to be layed-off en masse. The auto sector
is sucking wind, you can bet that this company will be CUT-IN-HALF at a
minimum. I am short this stock in size.
ps. Both of these stocks are in my short positions.
James
----- Original Message -----
From: "DH" <catapult@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Saturday, December 09, 2000 10:23 AM
Subject: Re: [RT] Friday's Gore Crash
> > I noticed weakness coming in the QQQ prior to the announcement, It did
not
> > surprise me to tell the truth. Over the years I have seen many times the
> > markets tiping its hand prior to "classified" announcements. As a matter
of
> > fact I now watch the market to tell me the news in advance.
>
> Yeah, you're right. Perhaps the more surprising thing is that Judge
> Sauls managed to keep his ruling a secret. I was watching that one too
> and there was a good 30 seconds to get an order into the after-hours
> market between when it was obvious what the tone of the ruling was and
> when the market reacted.
>
> I was just curious if any of the news wires had the story before CNN.
> I'd like to subscribe to that one. :-)
>
> --
> Dennis
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
>
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