Take a look at RTI and TIE lifetime charts. They can go a lot higher than 41 P/E. But good luck on your short, I think a pullback is overdue. Not so sure about end of the cycle. Personally I left TIE alone almost a year ago once it got pretty well known on Wall Street. Made the mistake of touching it once a couple months after, that was a big mistake. I think options is the way to go with the stock, buy puts so at least you control your downside. Stock can drop 10-20% in a matter hours, it's not unstoppable. Hell of a play, I wish I knew enough to actually seriously invest in it when I first found out about it.
it's a cyclical driven of anothe industry that won't finish its cycle for another 2 years. Hope you plan on holding that long.
another comment after this mornings hit - there are some big boys playing this one. there was a 700k block that sold at open, then a 260k buy. yeah, good luck with that short!
i had to add something: all commoditiy stocks are down today: aauk, pcu, ati, etc.... it's profit taking. have fun with that short.