You do know that 10% of the float is short right? And the short ratio is over 5! This thing could gap huge on the open and then roll over. I would not short into today's close.
I'm not saying not to short it. I just didn't know if you were aware of that. That's all. I have no opinion on the stock either way.
Up 14% today. Most shorts have probably been washed out. I'm looking to short only if it's close to the highs of the day at the close. The euphoria pushing this thing up is just for today. I plan to dump tomorrow morning. Looking for 3 points but will use trailing stop to see what I get.
Sure, a lot of shorts have been washed out replaced by new shorts that think the stock is up too much today. It's a dangerous stock because the float is so small. Not the ideal stock to short at all time highs.
It appears that this big jump is mainly short squeeze. Earning reports was good but doesn't justify the huge up move. Not at all time high. Was at 135 within last year. If you are any type of contrarian, this is as good as it gets.
Did you see that pop LULU had on earnings? Over 20% and never retraced, just kept going higher. I've seen way too many charts like this in this current tape. I'm not sure the easy money is to be shorting them.
As I mentioned, this play will only last for one day at most, probably not past noon. If you look at the LULU chart, you will some regression next day after the move. Not sure which up move you are referring to since I see 2 moves in the last few months. In addition, one of the move, the close was well off the high of the day.
I'm referring to the move on 1/10. Yeah it popped another 3 pts or 6% on the open after it gapped 20%! Yes, it came in later in the day. Anyway, I'll leave it at that. That's not my game. I have no opinion on FOSL. Good luck with the trade.