doen't matter whether the company stinks, the donouts stink, or they sell in Bagdad. The real issue is that the street is long and adding to their positions and you are short.
Again I say "do not fight momentum". EOM
All you have to do is read the posts on this board - 9 out of 10 of the posters are short!!! All these brilliant stock pickers can't spot a winner from a loser. KKD is once again obviously not going any lower. The absolutely worse bear market in 10 years couldn't take it down all that much and in a few days when it's back up in the 38 to 40 area it will be within 7 points of it's all time high. Not all that bad considering the market. I will just keep buying as it crosses key resistence areas like 35 and will buy more at 36 and 37 and ride it up all the way this time. This market has turned up for good and we're off to the races on the upside. Keep adding to your positions in EBAY and YHOO and AMZN and PNRA and SBUX and all the rest of your winners. Watch the new high list as that's where the strong stocks that are going to lead us for many months can be found.
For The Record:
I covered my SHORT yesterday at 34.04 . I took a 0.01 GAIN on 500 shares. virtually breakeven (a loss of $180.00 after comm)
KKD is forming a wedge (pennant) pattern. They are patterns which are not predictable. As such, don't like the odds anymore. Will reshort if a better pattern emerges.
Overall still looks like a long term down.
> My full service broker allows me to short anything
Interesting, but is it legal? I was under impression that you _must_ find and borrow shares before shorting them.
Perhaps your broker is simply more efficient in finding shares than Ameritrade is. And/or Ameritrade doesn't bother to look and borrow from other brokers.
How could you possibly have known that? You've got to be the Amazing Kreskin or David Copperfield or Houdini or someone else with magical powers. Oh wait, you couldn't really be Houdini, now could you? Unless he came back to life for the sole purpose of posting on the KKD chat board. Stranger things have happened in the realm of the supernatural.
We are millions and millions, we're comin' to get ya. We're protected by unions, so don't let it upset ya. And escape the conclusion, it probably God's will, that civilization will grind to a standstill. And we are the creatures that'll make it all happen. While your children are sleepin' and... your puppy is crappin'.
You might call us Impostors. There's something else u might call us. But we know your so greedy, you'll probably join us.
We're comin' to get ya, we're coming to get 'ya!
(FZ lives forever)