TTNP and SRPT did well for me Friday which gave me some extra margin to play with. I shorted only 2500 shares of IRWD before the bell at 17.88. I'll be looking to add to this position as my other stocks rise and we near the "Judgement Day" of April 23rd when the world finally realizes how Linzess has actually been selling the past 3+ months. I think anything above 17.50 is a good price and anything above 18 is a great price to short at. I will maintain a price target of 14-15 by end of month.
Whoa! I was expecting criticism from you rather than a compliment. Anyways, I covered that small 2500 share short position at 17.40 today. I took a peak at the Short Analytic data on IRWD and was shocked! Today it showed 93% of new positions taken out to be short! Looks like the masses are shorting this, which could be dangerous. I often prefer to fade the masses and now that you are on my side tossing around compliments I'm even more confused?
I have no IRWD position as of now. I think I'll take a breather for a few days from it. I think this could actually rally into earning on the 23rd and go back to 19. Today it seemed to be brutally shorted yet only fell 1.5% by the end of day. Something isn't adding up...I'll look to get back in cautiously by first buying some May puts.