Don,
You are essentially right, in my opinion. When I was alerted to VVUS it was trading about 70. I jumped in and rode it short until 32. Nothing has fundamentally changed, but the market has changed. The market then would not support overpriced, overhyped stocks.
Just as nothing was going up then...nothing is going down now. When this market settles down(as perhaps we see it doing now), the shorts will be back.
As simply an interested observer, I've watched many reasonable, articulate shorts cash out and move on, as I did, while they have been replaced by silly hypsters hell bent on talking this stock to the heavens. Not all of the longs are guilty, some have intelligent relevant information to share. But the most frequent posters have become an embarrassment in my opinion, and most of the shorts I speak of simply don't have the time to respond to so much drivel..
When I compare the rhetoric of the longs vs. the shorts, I find the short side far more convincing. When the slide begins, many of the longs will most likely quietly disappear.
I appreciate your civility.
Sincerely,
James |
