Short ideas:
In finding new shorts, I went on MF Daily Double fact-finding.
fnews.yahoo.com
The amazing thing is, that except for the 3 doubles mentioned from Oct 5-Oct 12, which was a very weak trading week, more or less all of the other doubles faltered since presentation - even including the strong showup this week and today.
Gemstar seems like an exception to it, as the $35 price I compared it was from 2nd of Sept, a day where noone dared to short more and where WMT is a stock which should not be shorted.
There are the most recent first, brackets show dollar change since,price as of today:
WMS - 7.5(-3/8), SERO - 22 7/8 (-2),
PR - 7.75 (-1/4), SALT 11 1/8 (-3),
XCED 5 3/32 (-2), STLY 14.75 (-5),
RIMG 12.5 (+1,5), GMSTF Gemstar 45 9/16 (+10!),
PAWN 9 1/8 (-3 1/8), G2 16,5 (-7,5!),
PURW 6 1/8 (-3 7/8), TBFC 9 1/4 (-12 5/8).
HLWY 9 1/4 (-4 1/2). PRBZ 31 5/8 (-6 3/8).
KLB 6 11/16 (-2 3/4), FDO (+0,5),
BLDPF (-1,5), WMT 64 5/8 (+ 3.75)
PLCE 9 7/16 (-3/16), DG 23 7/8 (-13 Split adj.)
BXG 9 5/8 (-4), LU 70 3/4 (-15 3/8)
AHLS 26 1/2 (-11 1/4), CDWI 17,5 (-11).
The recent three doubles need some homework and are not recommended at recent prices.
PAYX Paychex which is already very expensive at 45,
RESM Resmed at 52 1/4 now, with a PE approaching 40
KNDL Kendle at 31 with a PE over 36
INTV Intervoice at 23 with a 43 PE.
So even counting today a mechanical equally weighted piece by piece short across this collection netted a return approaching 30% when the market did not undergo that drop.
Especially all the doubles which escaped penniland look like preferred targets.
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