Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: mishedlo who wrote (12365)	9/17/2002 9:29:34 PM
From: Dave Gore	Read Replies (2) of 16631

Mish, I am shocked at your post. I understand shorting if a stock is overvalued or if there is a high probability of stuffing the channel to make numbers or high debt with a probablility of a credit downgrade, but you CANNOT tell me with a straight face that shorts were attacking ESST because there was strong evidence that their business was going to go downhill in 6 months. Nobody shorts that strongly, THAT early. This was manipulation and a concerted attack, imo. That fact that they were right (6 months later) is like me predicting the Market was going to hit 1600 on the Naz next week, but in actuality it took until April of next year. Actual EPS 0.37 0.37 0.37 0.20 Estimated EPS 0.34 0.27 0.27 0.16 Before any honest shorter "shorts", he or she would look for things like the following: Margins being reduced, not expanding. Earnings going down, not beating by 10 cents. The shorts were already in full swing the day that ESST beat earnings by 10 cents and margins had doubled in the current quarter, a sign that business was strong. Another quarter went by with earnings and business strong. Nope. Mish, you are wrong buddy.

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