Speaking for myself, I never bought TYC. I've bought enough cats and dogs this year with unhappy results. Can't speak for Rory or others, though, I hope somebody got a double out of it.
As for HOV as a short, it's a JimP favorite. If you look at it, it can climb powerfully, but when it tanks it tends to do so very quickly, usually a dollar or more a day for an extended period, and it tends to fall twice as fast as it climbs, so a 25 or 30 day climb in the stock is undone in 12-13 days. The trick is to keep enough dry powder and do enough position management (including stops, see JimP's stop out at 31, brilliant move) so you're psychologically ready to short it at 41 or 40, wherever it runs out of gas and turns.
I bought some RIG today at 22.30; I think it will run to 24-25. If not, I'll leave quietly in the mid 21 area.
Kb |
