Ive said it before and Ill say it again, the fundamentals on HBI are not there at this price level. BUT, I took my $5 hit on it and took a small long position in my IRA to ride this long term.
Short term this is an overpriced stock, but long term the possibilities ARE there.
Happy trading, I lost a bit fighting this trend - lesson learned (that I kinda already knew - oh well). There is a very large short position on HBI, and if this trend continues upward, they too will cover and fuel this higher!
NOT of fundamentals, simply speculators guesing incorrectly.
Appreciate your honesty. Still short here and consider it overvalued, not by a huge amount but too soon to take a hit yet. Earnings around the corner, some movement likely in both directions before then. Even though HBI do have a habit of surprising to the upside on earnings or playing down expectations more likely
The momentum here COULD throw this through 25 or even higher (IMO).
I bought 1/4 of what I had short this morning EXPECTING this to fall off (only because I covered..haha). BUT, I was wrong on the short and do like HBI over the long term - so I wont be so NERVOUS anymore. If it falls so be it.
One thins IS certain - this will move one direction or the other. Momentum is strong, so I am risking 1/4 of what I had short and prepeared to buy if it falls (wouldnt THAT just be perfect...lol).
You can never really lose long term, but being short - well, I had a 3 month time horizion and it didnt work out....oh well.