Craig, I have long been trying to put on a paired trade, long Ancor and short Brocade, but I just can't borrow the BRCD stock at a reasonable rebate. Or, really, at all. So far, this inability has saved me a lot of money, though Ancor is moving up strongly.
I think it will be 10 years before brcd has the profits to justify the current price of the stock, if it ever does. However, that seems to have nothing to do with the price of the stock, so I am leery of a straight short. As Bill F. said in the Rap yesterday, stocks no longer represent businesses, they are collectibles like Beanie Babies and Pokemon cards. <g> |
