might be the right spot, good luck.
I prefer to see how the day plays out because if it holds above $34 the rest of the day, you may want to cover and short again after tomorrows higher open. If it falls below $34, then it would be breaking Friday's trading pattern, and there may be more new shorters than new buyers. In which case I'm going to raise my stop loss for the day to $32-3/4. I won't short today, as the chance for a stronger open Wednesday still exists, but I may short tomorrow, if the opening volume has less upside conviction then we've seen the past 2 trading days. I suggest anyone considering going short, start with half their intended position after 2pm, in case CNBC talks about us, and then do the other half on the way back down, hopefully covering in the low 20's. While shorters may be in luck while MCOM is in it's quiet period prior to earnings, any third party press will make them run to cover, as the associations with WCOM and others is far too strong not to attract new buying even at these optimistic prices. Shorters may also be at risk from any new coverage we get. Even if the coverage is a hold, or accumulate, it will still have a positive effect on this stock as it will open the gates to even more coverage later. |
