|To: Francois Goelo who wrote (78285)||6/20/2002 9:04:21 PM|
|From: PartyTime||Read Replies (1) | Respond to of 116431|
|Thank you, Francois, for the invitation to begin shorting. When I return to a fullscale trading mode I'll consider it. |
Had the tech market not collapsed as it did I probably would have by now entered into shorting as before the collapse I theorized a three-pronged trading strategy:
1) Buy open market IPOs seconds after the first trade, selling most if not all within hours; sometimes hold over into the second day, depending on how I perceived the momentum.
2) Buy back into the same stock in the second or third week of its trading, in an attempt to time the low after its initial days of trading, and then sell everything on the day Quiet Period expires, this being the day when a parade of analysts would near-automatically parrot buy and strong buy recommendations, again selling into strength.
3) The third phase, which I never got to 'cause of the tech collapse, would have been to go short after the 180-day expiration period frees the venture capitalists to sell their previously-restricted shares.
I had #1 and #2 down pretty good and was surviving from trading that strategy, and I was close to moving into into #3. But then came Abbey Joseph Cohen that fateful Friday after the bell; and Mark Morbius that fate monday before the bell and ... well, forget about it! Nuthin's been the same ever since.
So I took my chips and placed 'em into a couple of prospects, forgot about trading, moved to the seaside and began painting beach houses (great-great exercise/great-great therapy) and I'm actually quite happy. Hanging out with fellow musicians, doing a bit of dancing here, playing softball for the local biker bar, some oceanside rollerblading, a party here, a party there,sometimes a party everywhere and ... well, hey, the world ain't all that bad--whether I'm trading or not: THE HELL WITH THE MONEY--GO FOR THE FUN!