I think it is overvalued. Please real discussion, not "short this pig" crap. Looking for an entry point on a 4 week duration. had it on radar before earnings, but never pulled trigger. Seems like a dead cat here based on upgrade, but big move down yesterday. What do you think?
I shorted at $103 & change on 3/31/2011 (end of quarter). After watching it rise to $118, nice to see it down to around $90. The question for me now is at what point do I take my profit and run? This stock is crazy my profit could be gone next week as this jumps back to $105 or it could continue to fall which I am hoping. I do not have a large position so no big deal I am going to let it ride. If it drops under $70 I will cover my short.
I wouldn't make any speculation as to where this piggy might be in a couple of months. In a couple of months it could be 120, and then what are you going to do? If you're a short-term-speculator-tax-loss-generator you will cover your position. If you're as real shorter plan on revisiting your position in a year or two or three. Have you got the cash and balls for that?