im sitting on a sizable short position, just waiting for the big drop. i dont play cards, but i do like playing the odds, to me, yelps looks very frothy compare to all the other social stocks. therefore it will correct harder than the other front runners when the market pulls back, which i believe should be right around the corner. it could even start today!
hey, we're only up give or take 12% overall since the nov low, and off to the best start in a new year in two decades, so i hear. if you really think the economy as it stands today warrants that kind of bullishness, then youre hell of a more optimistic than i am.
so the combination of an overall market correction and the fact that yelp looks to be over priced sound like a relative quick retreat under $20 to me. btw, I dont know how yelp managed to piggyback on LNKDs blowout earning last week to a intraday 5% gain (which is when i started my short position), anyway, yelp did end up almost flat for the day.
check out the comparison chart in today seekingalpha article, yelp sticks out like a sore thumb, talk about the ugliest house on the block! the time to buy or gamble or stocks like yelp or fb is when theres blood on the street, multiple downgrades etc...... not when everything is rosy, chances are you already missed the easy gain..... jmho