I was shorting VTSS intraday for most of the first half of this year. Usually, in and out within 2 hours. Fortunately, for a net gain.
However, I stopped looking at it as a short about a month ago, when everyone noticed the forms 144's being filed. Since I had been hammerred in a YHOO short, around that time, it dawned on me that the short interest of VTSS must be increasing and the likelihood of a squeeze made it a bad short candidate. Fortunately, I know enough about A.I.M. from Tom to recoupe about 2/3 of the YHOO loss by setting staggard selling increments during those +4 & 5 point days. So, I averaged up my shorts and covered on those few weak days after the 3 day runups. You could possibly try that, since it might be too painful if it is a big short loss. If you have real time Level II and "time and sales", you can baby-sit your way through this scenario. Unfortunately, if your remodeling your house like I am, I don't have time to tickerwatch like I used to. So, except in case of a one or two day DIMD short, I've decided stockpicking long with high PE big growth stocks like VTSS and ALTR has valid reward as long as the stubborn longer term shorts are perpetuating these runups. At that time about a month ago, I noticed QNTM's short interest was still extremently high for a stock with a forward PE of 10. Thanks to the shorts and fund buyers, it has gone parabolic in the last week. |
