Phil -
>>Just as you should have patience when long, you should have patience when short. The mid-teens will come sooner (by next week) or later (by next month). <<
Surprise! I agree with you! Except that I wouldn't be quite so certain about the mid-teens. I do think mid-teens are very possible again, within the time frame you mention.
I would be very surprised by single digits, though. That would take a major piece of negative news, IMO.
>>Just as the longs can add more to their positions during dips, the shorts can also add more the their positions.<<
Yes, that's true. On the other hand, a person who is long will never get a phone call from someone saying, "Hey, buddy, I've got to have those borrowed shares back. Sorry the stock is 5 points above where you bought it, but you have to cover now." (People trading long on margin are another matter, of course.)
Thanks for the advice. As soon as I believe the IOMG fundamentals are different, I'll be out it. Of course, that applies to any stock.
- Allen |
