>>You're pretty brave to short Ebay.<<
Take a look at most of the high fliers since '95 (ZOLT, IOM, NSCP, MU, THNK, VRS, RMDY,...). As a whole, you'd have made a lot more money shorting them than owning them (including the internets). The trick is to remember the quote in my profile, "Markets can stay irrational longer than you can stay solvant", and never fight the tape.
>>I take it you think things are going to shake loose again?<<
Yes. But I'm not predicting another August and September. That may happen in ~Feb or ~Apr. For now what I'm saying is that most of the companies that were going to surprise to the up side have already done so and two thirds of my portfolio has doubled since 2~3 weeks ago. It is time for a pull back and a dash of gloom to moderate the euphoria of the past 3 weeks.
BTW I give it a less than 50:50 chance that the Fed will lower rates on Nov 19 and if they don't lower the rates, there will be some sell off.
Sun Tzu |
