Yep. See I do not hold myself to one side of the trade.
Reason's for shorting in the short term:
1. Iran adding instability to Oil which hurts casino stocks
2. Germany refuses to use the bazooke aka ECB and will take all consumer cyclical stocks hostage on Euro worries
3. MGM does not produce a profit and subsequently will have a stock bouncy around crazier than Uh_Oh in is white padded room.
But mainly I do not call a side like you nonesuch and sit there trying to call people out. I know MGM's stock very well. I see many people missing many fundamental problems that they have seemingly on a personal level with MGM and not seeing what could and will be. All of MGM's problems can now be solved. If you know anything about economics you know the U.S. GDP is looking very good in Q4. And October was the first month in Q4 and Vegas had great numbers. You still wanna sit there and pound your chest? Ok... be my guest.
All profits i'm making now in shorting will go into a long position on MGM. And if you must know I'm not taking any pounding in fact I tipped my hand as to what my positions were with MGM yesterday.
I do not recall saying anything about your political affiliation and I have no idea what you are. My guess is conservative based upon your attacking of liberals.
I'm here to test my ideas and bash a few heads. I can tell by how people talk when they are speaking about finances what they have. I deal with clients all day. You I wouldn't bank on for instance.
Lol I'm an Obama supporter now? What is going on? Look sir, you don't know where I'm at with this stock. I still only gave you an idea.
I hope you realize that you were the one who dumbed down this conversation. And for that I'm done now. I have more important things to do.
I don't know your political affiliation? Then how do you know mine and why did you bash mine?
You have a lot of money for thousands and thousands of shares? The look at today's re-post of what you said a month or so ago.. you said that nobody with any real money comes here. How do you know how much we have? And how are you here, big money, if nobody who comes here has any money.
You are such a hypocrite. Typical liberal. Intolerant of anybody who goes against them. You want to be a cheerleader for the false hope of Obama saving this once great country and you get mad at anyone who sees that his plan isn't working. And it hurts you especially since you bet that it would, hence being long for the past 20% + decline in MGM.
Lol I'm the brat? No maybe you don't notice the fact that the most disrespectful people on this board are shorts. I'm just not gonna back down from you. So don't get mad. But talking with sugar does nothing when your being called names by people like you. Maybe YOUR mom never taught you the Golden Rule.
Yep I'm the one who is the fool here. And please don't steal a line from the movie Wall Street. Calling people sheep is so cliche.
I'm 22 years old and am able to buy thousands upon thousands of shares of MGM if I wish not because anybody handed me money but because I figured things out that others did not. Don't worry friend I will not be leaving this stock without making a large amount of money off of it. Not like I already don't have gains already.
When somebody is on the ground it's hard to make them fall any further. I already told you the massive revenue percentage jump. What about when gaming starts coming back?
I'm done arguing my points. I have facts to back up what I'm saying. You just have insult after insult. You don't know my political affiliation yet you believe you can still comment on me with 100% accuracy and knowledge. How can you sit here and think your so right yet be guessing and making assumptions. Make intelligent comments. Actually don't because then you will see how wrong you are haha
You don't know MGM well enough to not long it at $12 like you did and only close it out sub $10. I'm glad you are short, you might make some money. But you lost for the past month, the whole while insulting us for foolishly being short.
My point is that I have not given bad advice. You have. You have no business encouraging people to take any position and you certainly have no business mocking people who have been right and on the opposite trade from you.
Wait. Are you saying that you know where I have purchased MGM?
Ok, i'll play your little game. I never purchased any shares in MGM over $8.80. $9 was actually the old pivot point but everybody thought that Europe was going to collapse which made for great deals. Also, I shorted MGM down from $90 with a mentor who worked on the Morgan Stanley trading floor in the 70's and 80's. I have no business telling people to buy? I don't tell anybody what to do.
Worst of all you can't identify the worlds biggest economy moving forward. You can't identify that Vegas has been making big strides to come back (maybe not in gaming yet). You can't identify that revenues have surged 20% percent in Quarter over Quarter growth for two straight quarters! And you can't see that the credit facility is being re-done to lower the cost of capital which will free up tons of cash flow. If MGM get's their cost of capital back to 2009 levels MGM is back to profitability.
I have no business standing up to people like you? With all the above mentioned? how much of a downside is there really to MGM? Not enough to warrant such blind negativity by you and many others. Your picking DRY BONES. MGM has a chance to get in the black very soon. That's not a good short risk/reward ratio.
My biggest short right now is FSLR. They said that they will nto meet 2011 sales expectations and will fall short of Wall Street forecasts for 2012. That's a good short play. Somebody who will be losing money hand over fist and cannot meet Wall Street's ALREADY lowered expecations. I have been a short of FSLR since September or $93 a share. That's how you make money in this business.
MGM is a rising tide. Actual numbers prove that.