Larry..
I have no problem with your argument. I just chose to play EMLX on the short side, one can make money by both shorting it, and going long, so long as one doesnt fall in love with either position.
Im mostly a postion trader, EMLX has gone from $9 to $47 in a matter of 3-4 months. IMO, the easy money on the long side has already been made. The next major move IMO, is to the down side , therefore I initiated a position in EMLX at $45 and above (short) and willing, and have the resources to add to that position if it goes against me.
Some here on this board love to play EMLX on the long side, I have no problem with that, its a high beta stock on the upside and a great proxy for playing any NAZ bounce. What I do think is somewhat foolish is holding this trade overnight, as some have in the past. Why you ask?? Just take a look what happened last Feb. Stock closed at $75, next day opened at $40.
AND THE MASSES BUY THAT STORY.
The masses also bought NAZ 5000, new economy blah blah blah.. and we all know where that ended<gg>
Israel
The stock is priced for perfection, and anyone holding such a position has more to lose, than gain, since the 'good news' (dont see how a net loss, is good news) is already baked into the cake. |
