Well folks, we've seen this stock go from 202 to 300 ( intraday ) Now what? As I've said before this stock will rip you apart, whether you are a short or long. Here is a likely scenario. It could go up ( making those longs start the $400 chorus ( even famous Yahoo BIDU poster Goldieboox56 will return to this board with his chants and taunts to the shorts) while the shorts are burning and forced to sell). Then, one day, it will rocket down based on ABSURD VALUATION concerns. (After all isn't that what a stock is SUPPOSED to be based on?))
I'm thinking when it gets to be in the 350 range and those longs are thinking a return to the good ole days of the 400's fundemental reality will dwarf whatever enthusiasm the longs can spin.
This is a communist oriented Olympic hype stock. By the way the Chinese government has some heavy human-rights issues that will come to light during the Olympics. The only thing that the longs can spin after Olympics is growth and either it is there or it is not. Who knows, Metallicvessels could be right with his Fraud theory too. Only time and excellent investigating by the SEC will tell.
"I'm thinking when it gets to be in the 350 range and those longs are thinking a return to the good ole days of the 400's "
Sir, I'm thinking you are a fake short hinting at a run to $350 before a pull back.. That sounds like a long pumping the stock up. It's now trending down with a lot of market pressures so couldn't you just have easily have said, "that once it hits $150 and the shorts get overly confident then it jumps back to $200?" With the recent 50% run up on no news and a recession looming, I think down is more likely than up.
The next week, in my opinion, is going be a rock and roll time. GE will still hang over the market. Financial stock will report more right offs, earnings, and guidance will be disapointing. The cpi and ppi will cause some concern. Whether you are short, long, or just sitting on the sidelines it ought to fun to watch. I hope everyone that is in the game makes a ton of money no matter what side of the trade that you are on.
"prudentvoice" posted: >>>Who knows, Metallicvessels could be right with his Fraud theory too. Only time and excellent investigating by the SEC will tell.<<<
I'm actually having serious doubts that the SEC will take any actions to expose any discovered fraud -- at least not at this point in time.
My understanding is that the Fed has made it clear to all regulatory agencies that nothing is to be done that could "upset" the markets. The government knows that any collapse in the U.S. stock market will put the dollar in free-fall.
The dollar in free-fall will put the government into insolvency since foreign entities will stop buying government debt.
The Fed has gone so far that it is actually BAILING OUT investment firms that have defaulted on paying for purchased stock.
Few understand that the Fed acts as an overnight lender in the clearing process for stock trades. Right now, the Fed is acting as more than an "overnight" lender -- it is effectively providing "margin" to keep the market propped up. (This action is HIGHLY ILLEGAL, but is structured in such a way to make it look like it is all just legal "overnight" lending.)
Government officials are hoping that the credit crisis will ease and "everything will be fine again" but the problems just keep growing. It's becoming a mad rush to get out with an "every man for himself" mentality taking hold.
The whole "house of cards" is going to collapse worse than if the Fed had never intervened and just let the market collapse back in August when it was ready to sell off.