Petrol, I've said many times that I don't short stocks. To be honest, although I understand the value of allowing shorting, I still wouldn't mind seeing it outlawed if it cleaned up the market. That said, I might soon consider shorting or at least buying put options for hedging purposes if things don't look to be improving.
I am not a doom and gloomer, but I think we have to be realistic. You said this:
<I for one will NEVER put my good money into a company that has not proven itself worthy. Why would I do this? Just so insiders can sell and profit from my "hope"?>
Let me ask you something, if people are successfully tanking high quality stocks like GE, 3M, and others with rumors, what makes you think that any company is safe? Remember, it apparently doesn't have to be true, right? On Wall Street you are guilty until proven innocent. Like I said several days ago, we may get an occassional letup from this accounting stuff, but this is the most serious problem we've had in quite some time.
We need to fix it real soon. |
