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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (213425)	7/30/2009 11:52:53 PM
From: LTK007	Respond to of 306849

Doing DD on ELY. It earnings came out on wednesday morning,profits down 82 percent for year previous,BUT gutter level WS estimate (the oldest trick on WS in time of recessions), set bar so low a 3-toed Sloth could jump it. And company gave a optimistic spin.Closed up 24cents for Wednesday. And pre-open a bull call upgrade comes, stock has at least 7 milion shares short(11%) Word spread the END of the Recession would vault this stock in the future.Causing a 2nd squeeze---stock moves up a 1.10 from close on Wednesday to 12:30pm (5.70 to 6.80, but then closes at 6.39) on roughly 3.8 times normal volume. Smacks of short squeeze. But nonetheless the move could attract buyside traders---with 7.75 being maximum top,imHo,if that, happens i see it as a short. It's earmings was 10 cents per share. It's trading P/E is 12.29 based on trailing EPS of 53 cents. But i am going to have to make time to study smallcaps with 10% or higher short position but with decent trailing P/Es, because if we rally up into FOAMING FROM THE MOUTH rabid bullness, the smallcaps and microcaps are the LAST wave of the frenzy and move fast.If i don't do the work,i won't play. Hard part i need actually work to find qualified stocks. As a trader,that when at was making money at a FUN rate, i had one thing constant,at times like that, i was working Quite Hard. As iamslouching along this , lazy, i have scalped 20kprofits,and that was only in the a shortime that i was working diligently. Haven't made a dime since, i am in lazy mode. Bottomline ,from 12 years of trading,i think obsessive WORK rewards. i also have learned,best to be inactive when you are NOT working hard at it----you risk losing what you pocketed. At this point iam in mode, hoping to see a SCREAMING short moment at ultra overbought, or a buy on a significant sell down.(and have a list of high beta stocks on constant watch)Max (Solar Sector/Miners Sector/Dry shippers are amongst those i find that have a high BETA,traders land--if one is WORKING, that is on top of your trade.)Max Am i saying i am not an investor? -- Yup!--at 68 i like this as a mental exercise to stay young,and trading DOES that.