I do not claim to be long TRRA. I was long TRRA several weeks ago as a trade and sold for a huge profit before the momentum broke (You can ask Blue Snowshoe -- with whom I had a lengthy discussion on SI and PM, for confirmation, as I PM'ed him when I sold and thought it may be a good short). In fact, I shorted TRRA at 143 7/8 and am sorry I covered too early (now back at 101 7/8 -- I initially bought around 60). I would rather be short TRRA than long right now, but am flat...
I am not on any high horse, unlike you.
I do not get married to any stock, unlike you. I will trade a stock long until they break their momo and start trending down. I have many stocks that I've traded both long and short, so you can't call me an evil short-seller or an idiot long (I guess I'm both).
The right way to trade XYBR from 1 to 25+ was on the long side, which I admittedly missed. The right way to trade XYBR from 25+ down is on the short side, which I am happily on (several on SI can confirm I shorted at 25+, as I posted privately to them real time).
Once a momo stock like XYBR or TRRA breaks, you'd better get out (or get in short, or both). The fundamentals don't support the price after a huge runup, and the technicals don't look good on the downside of a momo. Look at the TRRA chart to see what I mean. Look at ECNC for an even better example (I shorted at 21 and it's currently halted after dropping back to $10 after the momo broke -- should reopen under $1 if it ever does reopen).
Your tactic of finding stocks that people traded at one time or another and finding financial issue with them is not a good one. There are many overvalued stocks in this market, but that doesn't make them good longs or shorts. When the momo is on, they're good longs. When the momo breaks, they're good shorts.
The momo on XYBR has broken... |
