I used to sell short when I thought a company was overvalued even if it was making money. Now my attitude has changed. I figure that no matter how overvalued the shares seem, if the company is making money, next year's balance sheet will be better than this year's, and whatever factors are leading people to (over)value the company now will be applied next year to a company with the difference that the balance sheet has improved.
I prefer to sell short a company with a proven track record of losing money (a big shareholders' deficit) and lots of debt. My opinion is that you should cover your SHFL short and consider shorting VNX on Friday if the earnings report creates a lot of excitement sending the price above 3 again.
I am going to cancel my 100-sh. short sale order, limit 43.99, now.
Did you get this from Briefing.com? If not, can you post a link? Seems to be an awful high prediction for a company that is selling in excess of 10x sales! If this upgrade is true, it is a bullsh&$%#t call to squeeze the shorts.
Today is more buying to cover,,,,, new short positions are hard to come by so there will not be resistance at 32/33 when this thing decides to pull back.
To much BS about Macau,,,,, I been there, gambled there....... it is seedy/ corrupt as they come part of the world! To much hype over nothing! So they get some sales there, big deal,,,,,,,,,
1.2 Billion in market cap for a 100M company selling gambling supplies,,,,,,,,,, get freakin serious!
Yea,, I am short and PO'd about the current situation,,,,, however it is this blatant attack on the shorts by PRU that I am totally PO'd about. What is there basis for this $50 prediction? 1.8B market cap for a 100m gross sales harware supplier.......