Go ahead to short. Be sure to find the intraday top, or you will have trouble.
But be hostest with you. Shorting now is risky. I would short a high flyer when it is going down trend. And buy a stock when it is going uptrend.
Ordinary people always do the opposite and lose money. For an uptrend, they think it is too expensive, and it is up so many days, so they GUESS the top and short it. That is bad. Do not guess, see the fact.
When stock going down, they guess it is down enough, and buy, only to find out it is going down further.
Now, Yahoo has this function that is pretty amazing. It is the 3-month or 6-month chart. I suggest you stop starting at TODAY's chart and look at the bigger picture.
Now there are two declining tops lines at play here. One woul be we up at like $105 or so if you think that the move back in late Sept. was legit. Given how quickly it got fried, I dont think so.
So if you extent the tops line just before the parabolic insanity in late Sept. you have something in the 84 range. I grant it might hit that early tomorrow. Great.
But if so, I would agree with the first opinion. Short the stock. It is planning to make 6 whole cents. Do the math, this thing is completely bloated (and the glee of the earnings report is now more than baked into the price, as you guys have been salavating with Google and Rediff).
So hope you enjoyed this short covering rally. I just hope to God there are shares available to short tomorrow.
Looking for help? LOL. Go ahead and short it. Shorting at a high is one thing. Shorting on a pullback with earnings coming in a very strong earnings season so far is not very wise. But you go right ahead.