" I was so relieved to see BEAS was still up tonight when I got home."
Well, I guess you've had a relaxing few trading days then . . . as opposed to the shorts here, who seemed to have lost their way. BTW, to those who thought our short friend was respectful to many here with a long position, I think the following comments spells out for his MO and what he thinks about those who maintain a long position in this stock. IMHO, his attitude was far more offensive than my few words.
". . . you show the quality of the longs left in this stock, dumber than dumb, and trapped. . . "
Moreover, IMHO, he posted here not to necessarily enlighten you to objective TA, but to shove in your face how right he was and how wrong you were . . . and continue to be.
". . . see you at $ 10, soon . . ."
A truly objective and final TA comment before placing me on ignore and running to SI Admin to complain, wouldn't you say?
Let's just say anyone who was short at $21 has taken more than a 50 percent haircut in their position in the last few trading days. By historic measures, that's no different than having entered this stock at $40 (which some of you might have) and realizing a 3-day run up to $60, which ain't too shabby.
My point here (and to him) was that the door swings both ways. And just like some us got caught on a quick downdraft from the $45-50 level, so too, was it inevitable that he would get caught "short." But nobody here is shoving the charts in his face. That's because, on average, most of the longs here have much more class than he ever will, for he has none.
Sure, we may see him again with a "I told you so" on a down day, but I think it is ludicrous based upon the current economic outlook, which is fairly grim, for him to assert "see you a $10" and "soon." He wants you to sell; he wants to intimidate you into selling one of the best long term opportunities in the hi-tech market right now. And as some shorts will do, when they close their short position, they often open up a long one.
BEAS will continue to have its up days and down days. No stock goes straight up, nor straight down. But clearly in the twenties, BEAS was in an oversold position. And, FWIW by my novice read of the chart, I think any assertion that this stock is going to $10 should send a clear signal to the readers here that Spy is just full of it . . . when it comes to BEAS. JMO. |
