you say "shorting is relative to the individual", but actually "shorting is relative to your time frame".
hey, i shorted highflyer QCOM at $ 405 (pre-split) and covered at $ 330 a few days later, so it was a great trade, but the stock is at $ 800 now (thanks to the delinquent who put a $ 1000 price target).
you were the one gloating over the $ 500 you made in your EGRP short from 28 13/16 to 28.
you can laugh all you want at the current EGRP weakness (i laugh about it too sometimes, since it's so ridiculous and puzzling), but don't underestimate this company and this stock, it will be back with a vengeance when the time is right.
if you look at the CMGI chart, it "did nothing" for months too, even when they bought Altavista from Compaq initially the stock did nothing.
then an analyst said something and sparked the current rally.
chart readers kept piling on just blindly buying "the breakout".
if you own good companies, the real money is made long term.
talking about gloating... i bought CMGI in december 98 at prices ranging from $ 17 to $ 22, and i'm still holding most of those shares, worth $ 326 7/16 today (i'm up more than 1400% on those).
you would probably have sold them all as soon as they reached $ 23 1/8.
with EGRP i was up 1000% at one point in april too.
sold some then, kept the rest forever. |
