.....and all of this one 4x usual volume. Think about it. All of the news is already baked in to the PPS. Was this a buying opportunity or was smart money selling the news. The tape would indicate he latter.
I need a bump in order to re-short the shares I just covered. Hey, I can hope can't I?
I'm kicking myself. My instinct, which I don't always trust, said to sell at $69 and to repurchase lower. I'm kicking myself now as I left money on the table. Whatever...it'll be trading over $70 by EOY.
It will be trading ovr 80 by the end of the year. If you are not a short term trader, and daily price swings mean nothing, buy it on monday morning and check back in december. While shorters like Chanos are focused on a declining DVD business, Coinstar has 8 other profitable business entities in the works. It's not about DVDs, it's about a group of executives who know how to use money to make more money. These are the people that you want to invest with.
This is short term traders like you moving the price. The smart money waits for the dust to settle before starting to accumulate shares. Companies like this aren't very common, and why people would choose to short it is a mystery to me. I suppose you can scalp a few dollars on a short term trade, but if you think they are going down this year, you are going to be very disappointed.
Not sure what your point is with the "I am going to be very disappointed" comment. I shorted last night and this morning, each time on the over-bought pop. I covered half already and have a Stop Gain on the rest at 66.75.
Here's a clue for you: I CANNOT LOSE ON THIS TRADE.
I saw an obvious opportunity to short and make $12,000 to $14,000 and I took it. Don't read too much into this. If I went against your trade, so be it. Don't take it personally - when trading/investing Emotions cost us money.
Hmmmmmm, this is not personal, it's just business.