Andrew: Actually, ACRT did give me a short signal a while ago, but I was full up and prefer buying puts instead of shorting the actual stock (too much margin buying power tied up). Thus, ACRT was not a candidate. However, I also see that it gave a signal to cover a week later, so it would not have been a productive trade.
Mr. Pink evidently doesn't know how to short without running thread to thread trying to shake the small, weak hands.
To his credit, however, I will say that a company with little more than accounting practices going for it, no analyst and trading at almost ridiculous multiples is the type that can get clobbered mercilously when one little thing crops up. Like, "whoops, maybe we incorrectly categorized our this or that, and our earnings need to be adjusted....." Go check the news on PEGA, then the chart. It is ugly, and possibly a similar scenario for ACRT.
Jeff |
