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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis
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To: Greg M. who wrote (997)4/9/1998 2:54:00 PM
From: Dale Baker  Read Replies (1) of 2506
 
I shorted ZITL several times with a net profit. You are right, it's a joke of a company. But don't think of it as a company, think of it as a heavily shorted stock. Got tired of the squeezes and bought June 12.5 puts which have doubled in value so far. Looking for much more by the time June rolls around. They can only hide the bleeding balance sheet and no contracts for so long.

If ZITL spirals down as planned, I will make about 400% on the puts. If not, I'm not out very much.

Good luck.
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