Share price seems to have recovered nicely from that low around 26. Seems to have some legs in this range now, around 30. Only caution for next few days is that all of the traders are saying the S&P is topped out, in nosebleed territory (Guy Adami, CNBC a little while ago) -- and Enoc has a high beta/will fall hard with any broader market selloff, which seems imminent. On the brighter side, since it's showing legs now, maybe any dip won't be that significant, but since it's true ENOC does swing pretty hard, something to be cognizant of.
It's on that thesis I've just taken a short position average 30.23.
And I can understand, having been long for so many years, how any short position is irritating to those who have such a vested interest in the share price rising (even if the short position turns out to be a good trade -- that's irrelevant).
It's funny, it's almost like, when you have a long position, and someone shows up short, it's like they're attacking your kids (or taking food off your table). It's the same emotion, I get it.
For what it's worth, I'm a huge ENOC fan -- but it's got it's rhythms and its realities and I have played them to my benefit for some time now. Good luck to all. And Go ENOC (down, just a little, lemme jump out) and then let 'er rip)!!!
But Enoc aside for a minute -- I do think at this moment the market has more downside risk in the next few days than upside opportunity. ENOC travels with the market at high beta, and that's the basis for my thesis - not that Enoc sucks, take it easy on me, this isn't a dating site (fall in love with stocks) - it's a marketplace and I assume we're all here to make money.
That will suck for me, no doubt be good for you. Hey, it's a marketplace and you can play both sides. Don't fault me for being on the other side. No pump, no bash, just straightforward assessment and disclosure of my position. Would it be more comfortable for you if, when I'm short, I just don't post.
I'd rather win on this trade than lose, but if it rockets and I have to cover, and you're long, I'll be glad for you.