I'm no longer short CSCO, not enough nearterm downside in it.
Arch,
Knowing you, I'm surprised.
I remain short and have no plans to cover.
If I may, what do you see out there better than a Crisco short?
While I agree Crisco may not have the downside potential of other stocks, I think it's the SAFEST short in the market. It may bounce a few points, but it isn't one you have to worry about losing your ass on. It's no JNPR or BRCM.
Basically the same as being short the QQQ's or something, but Crisco will go down farther than the QQQ's when it's all said and done. Also, I believe Crisco will be easier to call a bottom on than the the Naz or QQQ.
I'm short Crisco INSTEAD of the QQQ because it's easier for me to follow. Crisco defined the bull run and it will define the blowoff. In the mania, you couldn't be long enough Crisco, and in the blowoff you can't be short enough.
I'm now short about 1/3 to 1/2 of my intended position at the bottom. In other words, I don't even think I've seen the middle of the downside. [not by price of course since it's already over 1/2 off its high, but in the obviousness of the blowoff]
thanks,
chic |
