> shorts keep calling tops and reshorting up higher, trying to
> catch THE high.
laff. well i'm "a short" and i don't do that. in general, i find something i understand, wait for a good price, and sell it. my "short and hold" positions in this rally are doing pretty well, actually. klic and brks have only participated briefly, and give up their gains easily. kopn has come over 33% off its high, and i've covered 2/3 of my position there. (also covered and reshorted some brks.) pursuing pmcs is hard; but its fun :) reminds me of extr from this time last year. and in spite of everyone yelling at me not to buck the trend on that one, i rode it down from 11.85 ...
anyway, i just do what i understand and what works for me. and for me, that means *not* playing the wiggles in the charts, but riding longer term trends. but really, i'm not gonna go chasing nvda just cuz everyone else is. i did that in 1999, and it was fun and i was naive and stoopidly made a good bit of money. and fortunately, i happened on LG's board back on SI in the spring of 2000, and that scared me and saved me alot of money.
"Sure, some stocks are overvalued, but the shorts are the ones making them float up there. If they expended as much energy trying to find something of value last year and buying it, they'd be in a lot better shape than they are in now, which is hoping to get back to even."
laff. my portfolio doesn't have a high-water mark. it has a moving average.
"Lots of stocks have been rising on lower volume."
well, anecdotally: even though i'd been telling them to sell everything since summer 2000, it was only last week that both my brother-in-law and mom actually did so. (although for my mom, it was more the case that her "financial advisor" was laid off, and that spooked her. i sent her off to him at LEAST 5 times over the last 3 years to take money out of stocks, and he continually talked her into holding them. trimtabs showed net redemptions this week also, through the 7th ....
