The easy bet was shorting Globalstar in the mid to high thirties or better for a trade down to this current level.
My strategy exactly. This has to have been one of the easiest trades of my life. As of yesterday, i went long, but not because i believe in Globalstar's business (which i don't: the next "zero billion dollar industry" if there ever was one after Iridium) but because i believe Real Soon Now there is going to be a hellacious short squeeze. My strategy is now to ride the squeeze up, sell and re-short and ride it back down again, cover, go long, short, cover, etc. This is likely to be good several times (like it was with Iridium).
My negative outlook and predictions for Iridiums demise are part of the record (as well as several others who held similar beliefs). I am also on record saying that Globalstar will be a success.
As are mine (#reply-11665407, #reply-11666902, #reply-11684987, ), but i don't hold any hope or illusions of success for Globalstar (#reply-11507139), another Big Dream and Grand Vision (which i love), which is certainly much less of a science fair project than Iridium ever was, but still none the less will (sadly and regretfully) fail as a viable business.
Geoff Goodfellow
Prague, CZ
(#reply-11657477) |
