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First, I agree with your claim that some or even many shorts may simply be a hedge. Still they must cover at some point. Second, I have also heard the claims that shorts are better informed investors. I don't buy it. Speaking from someone who is often on the short side (although never w/r/t AGPH) shorts and longs both play the same game with the same info. There is always someone with more capital betting the other way. So be it. Third, like you, I don't like people badmouthing my long positions. But its part of the game. Happens in every stock I have ever held a position, long or short. Probably every stock listed. Fourth, I am not suggesting that we will see a short squeeze here. To the contrary. But I do believe a large short position may privide some artificial support for a stock in times of weakness. And fifth, and most importantly, w/r/t a company that I feel is not deteriorating fundamentally, or is actually getting stronger, at some point the shorts will give up. At least they should. IMHO, fundamentals will eventually win over hype, manipulation and unwarrented denigration. Perhaps this is just youthful naivity. But I hope not. All this said, I may be totally wrong here. |
