Okay, so you made a macro call and and decided that the overall market looks toppy. You could have shorted SPY. Or, you could have shorted a stock in a downtrend, figuring that a stock-specific downtrend combined with an expected (by you) overall market drop puts the odds in your favor. But you went and shorted a stock that's in an uptrend. The overall market could trun down while TPX continues up. Or, an overall market downturn could reverse the trend in TPX. It's hard to see why you thought this was a good move.
I was proud of 20 percent gain and sold at 35. Should have went with my gut when I bought this thing and held. They bought back a lot of stock when it plummeted to 21 bucks. I would not short. Earnings could suprise. My wife and I just bought a TPX bed a month ago...still waiting on delivery. Local furniture store that we bought it from said that TPX dictates price...no negotiation...will take month for delivery.
Wrong idea, agree with Javierk1234. Cover, go short something else that has just shot the moon. I am long, and it's one of my very best positions, now with Sealy it's going to get back on track toward 80 bucks.
Dude. I'm long and im not here to bash, as i think this is a very risky play on both sides. It could very well go down. I just think there are such better stocks to short if you havnt shorted in a decade. They are buying Sealy which just 2 days ago was cleared by the Anti-trust commission and will push their expensive overpriced beds in Sealy stores soon. There are many many more overpriced stocks that dont have this kind of growth opportunity. You could be right... imitation memory foam is a better deal for pillows/mattresses.