Hi Lucky!
Agree about the shorting potential. Just be extremely careful. The company is horrid in terms of revenue growth, and other than BS postings about it being "fast growing" it has no legs to stand on. However, the fact remains that some idiots gapped this thing up over 100% Friday morning, had you been short Thursday a bit too much, you would have been in trouble. I am convinced that is what caused the gap honestly, shorts setting targets to buy to cover at high prices they never thought would actually be hit (the max pain setting) only to see them hit in the first ten minutes of trading. Combine covering with idiots that buy a stock because of a phantom product press release, and you have a stock dropping from over 22 to around 14 in one trading day. Quite an ugly sight, and I'd imagine only those such as yourself wise enough to short Friday and the Market Makers are smiling going in to the weekend.
If you are looking for a good Linux short (assuming we have seen the worst of the mania, which I am not sure of yet) take a look at WAVT. I set a decent short Friday on it around 7 1/2 (didnt think to do so sooner, unfortunately, since it opened around 9) and it closed around 6. Im not sure, but I believe it may be an even better long term short then this one.
Be interested to hear what else you are thinking on the subject. Take care.
bob |
