TERRIBLE short setup. that looks like a long to me. 1. price increasing on increasing volume 2. slight pullback to medium term support on loxer lvolume. there is NOTHING short about that. P.S. I forgot to post DACxxxx reply to my original post....here it is above.
rich, this company: - has good p/e (well, now ) - has good margins - is growing - has good returns - has been going up all the time - with so many shorts there is the possibility of a squeeze now, if you shorted you were obviously right. But now my question is: what made you think it was time to short? Was it just the 80% shorts?
no.. this short was just that.. a short position for the "short" period. I trade stocks. I shorted AMR back in 03 from 7 down to 2, and then went long 12000 shares at 1.75. I liked AMR back then when it was getting hammered and felt it was not going under. I was right to short it and right to go long on it. I trade stocks based on where I think its going. Don't get me wrong, I like AXR for the real long term (6+months). But for the 'short' term, I think it went up way too fast and was overdone only because of other factors not related to its 'value'. I was right with my trade. Now I am just waiting on the sidelines hoping that I can get this stock at what I consider a bargain. I may not get it, and that is fine. My money on long positions will be on stocks I like long term or feel are going up due to something short term such as a good earnings report. I am about as completely neutral on AXR right now as I think anyone can be. I shorted at 130 and covered at 100. For me, this stock is something I do not want to trade at this time. Good luck sir.
I see, thank you. I guess I'm just very impressed by the fact that this stock went out a lot, and it's still going down, for apparently no reason. And they declined any comment when the NYSE asked them an explanation.