I am so scared
Now I think I did wrong. Please tell me this will go down tomorrow
I shorted a whole lot after hours a big big lot
o god, I am so scared now
years ago when ebay ipo'd i hated it. i didn't understand how an internet company with no assets other than cash and a few employees could be worth billions. i shorted it at 42 and covered all but one share. i kept that short for well over a year and several splits to remind myself every day two things i needed drilled into my head. one: cash is a great asset; and two: being the 800lb gorilla is priceless.
money well spent...
Many people make the mistake of shorting companies based on high "valuation" or when a stock is at all time highs. Calling tops is a dangerous game. I remember when BIDU was $150 pre-split it was heavily shorted, yet the stock is up 1,000% since then. CRM is an example of a stock with a ridiculous valuation, yet the shorts are constantly wrong.
When a stock makes new highs, there is no overhead resistance to slow it down, and short covering only fuels it higher. I think ACOM could go much higher from here, being a niche player in a growing market with no competition. Like OPEN.
This type of activity is why no one can time the market with options..just a sophisticated gambling scheme.
I hope the stock climbs to 40 by mid May. Regret I sold 1000 shares recently.
Tuedsay's bounce on high volume, especially in the last hour of trading, was a good sign. Yesterday they took it down in the morning on practically no volume, then bought it back today on higher volume.
If you're serious (which I doubt) then you will probably be fine as I think the stock got ahead of itself AH. I will not be surprised to see it open under 36. But if you get a dip in the morning I would cover fast. As of 4/15 short interest was over 4M shares. Those who were not smart enough to cover ahead of earnings could get squeezed hard tomorrow.