J,
not just taht. Creamer is short everything that went down and was long when it went-up. He must be a billionnaire by now.
Last week on Squawk, when I was panning Cabletron, I also told the audience I disliked 3Com. (I am short it.) Now it, too, has blown up, but not for the reasons I put out the short. I wasn't sure of 3Com's accounting and I was worried about others encroaching on their business.
But now they are talking about a slowdown in Asia plus inventory problems. It's possible that these guys have temporarily lost control of their business model. That's ugly.
They didn't seem all that sure of themselves on the call last night.
Nevertheless, I will probably cover my short Wednesday, as I fear that 3Com, this low, may be takeover bait. I hate being short companies that could get bids and 3Com's core franchise hasn't been trashed by these current problems. (Three times in the last decade I have been massively short takeover stocks. All three turned out to be mistaken acquisitions by the acquirors, but so what. I had to pay.)
J! |
