Hope you didn't short based upon that alone!
Oh no, certainly not.
I believe the entire "internet" sector is going to take a nasty beating in the short term.
Just MHO, but I feel that with the contraction in the markets we've been seeing and so many new internet IPOs, that the situation is becoming a classic scenario of less and less money chasing after more and more stocks.
Noticing a significant increase in AMZN today (now valued in capitalization at nearly three times Barnes and Nobles AND Borders), I do not take for granted the possibility that the market's current speculative internet issue frenzy could do me in before if subsides. This is not, however, how I'm betting with my money at the moment.
Have no fear for me... my short position in NSCP is a mere 50 shares.
My short position in AMZN is 150 shares, but I was lucky enough there to get that when it was trading at 143 1/4 [wish to hell I'd covered at 90 two weeks ago! :) ]
I've nothing against NSCP, in fact I happen to feel they are a great company!
If I'm wrong, you stand to gain by continued increases in NSCP, possibly at my loss. If I'm right, I stand to gain by a short term drop in NSCP (plan on covering at 25), and you still stand to gain long term, IMO, as a holder of NSCP.
Thus I would offer to you that it is quite possible we could both gain in the end from seemingly irreconcilably different positions on the same stock.
Strange indeed...
-- Zaxbowow |
