>>Well, hopefully by that time we'll be in Hawaii sipping
Rum and coke and getting a massage from several babes ..<<
Some of us shorts already live in Hawaii, the "massage" comes later.
I am short two YHOO Aug. 185 call contracts. I shorted when the stock was at about 205 and collected a $26 premium worth some $5100 after commission. I haven't had a chance to check the price of the calls yet, but I doubt I'm losing money (yet). The size of my short position is quite small, and I have also SOLD a number of "out of the money" puts (160s, 150s) and collected some decent premiums. I am usually a pretty conservative investor, and would not be doing this unless I thought I had an unusually good chance of stealing away with my premiums. And I still believe YHOO is short-term waaaaayyyy overbought at these levels, and seriously doubt the current runup can continue. If it does, there will be many chances for me to make a gracious (and financially painless) exeunt. I sincerely hope those of you long YHOO have rehearsed your "fire drills" should the unthinkable (YHOO going way down) happen.
BTW, I made most of money in Japan in the early 90's shorting Japanese companies, before, during, and after the "bubble" collapsed (draw your own parallels), and I have never had trouble sleeping... Oh! Time for my massage...
See David R.'s preceding post (well said!) for smart ways to short, and also why YHOO longs might want to start thinking about the "unthinkable" ...
Aloha and happy investing,
Da Zipstah
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