Obviously bubbling up, but here's the reason why I'm not shorting this:
finance.yahoo.c...te/IRBT/holders?p=IRBT
Institutional ownership is over 100% (use you own stock screener), all the shares being traded are borrowed shares. Valuation is high (PE approaching 40), but there's an obvious potential for a short squeeze given the limited number of shares available.
There's an obvious temptation to short the market given that it's going full pumptarded, but until institutional holders start selling, nothing is going down. Look at any stock and Fidelity (FMR) is always in the top 5. Why? 401k. Hardly anyone takes money out of their 401k until they retire. Very few people try to market time their retirement accounts.
I'm not buying into this, but I'm sure it's going to break out instead of double topping just because it's a very crowded game. Be careful shorting anything in this market, at least check the institutional ownership before shorting.
finance.yahoo.c...te/IRBT/holders?p=IRBT
Institutional ownership is over 100% (use you own stock screener), all the shares being traded are borrowed shares. Valuation is high (PE approaching 40), but there's an obvious potential for a short squeeze given the limited number of shares available.
There's an obvious temptation to short the market given that it's going full pumptarded, but until institutional holders start selling, nothing is going down. Look at any stock and Fidelity (FMR) is always in the top 5. Why? 401k. Hardly anyone takes money out of their 401k until they retire. Very few people try to market time their retirement accounts.
I'm not buying into this, but I'm sure it's going to break out instead of double topping just because it's a very crowded game. Be careful shorting anything in this market, at least check the institutional ownership before shorting.
Comment:
LOL, downgraded the day after I post this, and look what happened.... bounced right back. Tough market to short anything, and if you do you'd better have perfect timing.
Comment:
… and this is what a short squeeze looks like. Wish I had bought some calls yesterday on the morning dip.
What the hell is Cannacord Genuity, and who the hell is Jed Dorsheimer anyways, lol. Obviously trying to manipulate the stock, hope his buddies got screwed hard. Definitely some panic buying this afternoon.
What the hell is Cannacord Genuity, and who the hell is Jed Dorsheimer anyways, lol. Obviously trying to manipulate the stock, hope his buddies got screwed hard. Definitely some panic buying this afternoon.
Comment:
Still bubbling, but charts indicate a possible pullback to $110 area which is my buy point for March calls.
Also the potential that this is a bull flag and it goes super pumptarded to $150 at which point I would consider shorting it, not anything below that.
Also the potential that this is a bull flag and it goes super pumptarded to $150 at which point I would consider shorting it, not anything below that.