<<I don't see much profit ... rehashing old debates about what meaning to attach to insider sales.>>
Amen, Kip, and I'll stop. I got gradually drawn into the discussion by talking about whether the CEO 144 filing was legit- and you're right, I did enter before that particular filing. But the funny thing is I didn't talk much about my reasons for shorting due to the same reason you noted above, i.e. rehashing old debates about how ridiculously overvalued stocks like this are. Talk about a yawner! So in avoiding one dull debate I stepped into another!
As I said before, the past two weeks I've both longed and shorted SEEK, longed INKT, shorted LCOS, longed EWBX twice, longed RNWK, etc (made money on every trade but one, and I may lose on this as well). Friday after Turkey Day is historically volatile and happy with fake trading and it looked to me like a blow-off top, and so I shorted EGGS, not because it's the worst of the bunch, but because it had one of the greatest one day rises and, more importantly, I could get the borrow. I don't use options on these stocks either, by the way, cause the premiums are outrageous, and my account isn't cleared for writing uncovered calls (probably a good thing <g>).
No one questions that it's overvalued, it's just when it will crash. ;-)
Anaxagoras |
