Dale:
Candle:
This tank is a break for all shorts of CDRD indeed. It will indeed be hard for ML's floggers to sell this to anyone now. But since I hold shorts mainly as a portfolio hedge, like many, my real money is getting slammed along with most everyone else's. I consider this to be a short term event, since the underlying economy is sound, and profits in my chosen sectors (Telcom, networking) are good, and the future prospects are excellent.
My objective with CDRD is to survive till mid november with a good chance of a break-even or small profit on CDRD. Shorted at 16-1/2. I applaud your nerve in doubling up. The consistent rise has been totally inexplicable, in the face of an overwhelmingly negative reality. Ordinarily, I'd suspect there is important info we are lacking when this happens, and just back out, but the thing just snuck up on me. Now, however, I wish I had the dough to short the pig again. May off some winners and do it-depends on today's (tues) action.
Luck |
