judge,
I know little about SIRI, but I rarely trade on fundamentals, particularly shorts. Fundamentals might enter into things some, but can also be very misleading, in that the presumption is that markets and stock prices do things for rational reasons, which by and large is not the case, IMHO.
Also, for SIRI, I haven't looked at other things I like to in a short. For example, if there were a ton of shares already short, I wouldn't touch it, because of the potential for a short squeeze. There are other things, as well, that I haven't looked at.
But you're probably right, that at some point in the not too distant future SIRI will be selling for less than what it is now. But, in the very near term, given all the short opportunities out there at the moment, I just wouldn't want to watch a short position in SIRI go upside-down on me for even a few days, as it corrected back up to its moving averages. I try not to chase stocks, long or short, having been burned both ways. I've learned the hard way that it is better to let a stock come to you, and satisfy your entry criteria, and if it never does, then move quickly to something else. Anything else, and you're asking for trouble.
All JMVHO, of course.............YMMV
Walkingshadow |
