i agree...but in the end, had you made that mistake back in 99 you would have been schooled ( going short ) and would have left lots of flow on the table by not going long...some stocks went up 10 fold and still had more to offer...i know i know where u be coming from..thats why i said dont short dont buy...although i took a stab at kong this morning...peace...
covered at 40.40.. its not worth carrying this short in this market .. not until we see what happens in China.. Still think 30 points of downside. Hopefully it'll gap up to 50 on Monday so I can reshort it. [and thats based on FA]
its a twofold trouble. i see a little chop - not enough weakness just yet. Second, shares are hard to get. I just hope I can luck out in the future. For me, its a tiny position ... i'm much happier trading options ... and won't be interested in being aggressive until we stop seeing china this up posts everyday on ET... still a bunch of idiots buying.
well, i probably won't hold my chunk through til monday. but i've been moving my stop down all the way so i lock in my profits, and am hoping for a late day collapse to make a nice touch for the weekend. (EDIT: now out. will look to reshort on monday).
Some IBD guy even showed up on CNBC to state the fundamentals, and the stock moved only 50c. Obviously not enough short shares available.
Yeah, those who claim to be short (ie above) are lying. There hasn't been stock to short for 2 weeks at all the major brokers.