Still have a short position. While I successfully shorted smaller amounts, and covered for 15 or so gains, as previously noted on these boards, my "core" short position dates back to the low $1.60's. It certainly shows the perils of shorting something that is short term overbought, even if you like it fundamentally. Now, with the stock having doubled, from the lows of several months ago, I'm going to short more at $2.35-2.45....and look to cover that on a drop back to like $2.20-2.25 or so. I also probably need to cry "uncle" on the original short position, and cover that on any drop back to the $2.00-2.10 range, because I would imagine, at this point, that we might very well find support at $2 now. I DO, however, think the stock is short term overbought again.....which is why I will add to my short position this week, on any further move up.
Fortunately, the position is less than 1% of my overall portfolio.
I appreciate that it takes all investing styles to make a market. But I don't think that anyone can make these micro-predictions you try and make over a long period of time, successfully. I've been in LEE for what 2 to 2 1/2 years and I'm up 200%. You've been in and out of LEE trying to predict weeks or months out, and I'm sure you've made some money. But fundamentally, how much money are you risking when you short LEE, here? How much would be sane to risk? I put in a #$%$ ton" of money for me and letting time do it's good work....
i think the stock is going to gap 2.46 or so and go to 2.60 possibly before 10 am monday be careful shorting a stock breaking new highs on volume my friend.cant imagine why people short 2 dollar stocks? nothing better to short.you are going to have your head handed to you imo.