Thanh, I did HAVE a whole bunch of short candidates, but many of them rocketed up today, along with a lot of other dreck. So I think I will hold off a bit.
PGTV surprised me. I thought I might be relatively safe, since the company is in an industry that is currently out of favor. I must confess I was not familiar with the phenomenon of the "short squeeze." Now I am familiar with it, alas, although I confess I don't entirely understand it -- doesn't seem to have anything to do with investing or even trading -- and so will be more watchful next time.
I may return to my original notion, which was to find some sad old economy stock in some depressed & spurned sector or other. one that is gradually oozing its lifeblood away (something like Bethehem Steel, which has sunk below $5, and so can't be shorted any more), one that can be counted on to die a slow, lingering death, rather than to experience a sudden precipitous decline (which, I see, can be followed by an equally precipitous and unexpected recovery).
Does that sound like a safer course to you?
jbe
EDIT:
P.S. One of the stocks I succesfully shorted last week - ENMD -- was up 20% today. So I'm glad I didn't get greedy, and hang on to it longer than one day in hopes of squeezing an extra buck or two out of it. |
