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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Amots who wrote (10259)12/4/2001 9:00:08 AM
From: sylvester80  Read Replies (1) of 99280
 
The problem with your math is would that someone had bought the same value of shares that would have been shorted at $80? $400,000 short at $80 is 5000 shares. It would take the equivalent of 1.6 million shares long at .25. Who is that nuts and has 20/20 vision when the stock has cratered from $80 to $10 to $5 to $3 to $1.20, to 60c to 25c to do that? Nobody that's who. And anybody who did try along the way to catch a falling knife got killed. The shorts made huge money on this one while longs got killed. Sorry. That's the truth. And even if you don't believe that shorts shorted the top, they had a hell of a lot opportunities to short Enron on the way down. The beauty and pounding a stock takes when is both overvalued and has been cooking the books. Longs on the other hand that tried to pick the bottom on Enron got slaughtered.
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