doen't matter whether the company stinks, the donouts stink, or they sell in Bagdad. The real issue is that the street is long and adding to their positions and you are short.
Again I say "do not fight momentum". EOM
All you have to do is read the posts on this board - 9 out of 10 of the posters are short!!! All these brilliant stock pickers can't spot a winner from a loser. KKD is once again obviously not going any lower. The absolutely worse bear market in 10 years couldn't take it down all that much and in a few days when it's back up in the 38 to 40 area it will be within 7 points of it's all time high. Not all that bad considering the market. I will just keep buying as it crosses key resistence areas like 35 and will buy more at 36 and 37 and ride it up all the way this time. This market has turned up for good and we're off to the races on the upside. Keep adding to your positions in EBAY and YHOO and AMZN and PNRA and SBUX and all the rest of your winners. Watch the new high list as that's where the strong stocks that are going to lead us for many months can be found.
DayTradersRUs, you wrote:
<< So SOP is you try to refute an argument I did not make. >>
Get used to it - that is SOP for several posters on this board. And don't expect logical reasoning to make any impression on mikem - his mind is made up, and it's not going to be changed by any sick commie pinko liberal deviant short-seller from Berkeley (as he will undoubtedly categorize you now).
Welcome to the KKD asylum! Good to see another trader on the board.
Interesting that out of the past 9 weeks of trading KKD has only traded above 34 on 3 of those 45 days and that's when you shorted it - of course - right near the high for the year 2003 of 34.98 before Friday's move to over 35. As to your "limited upside" thinking, keep in mind that KKD has never sold at a lower PE than it had in Feb. when it was at 27 - with over .90 everyone's estimate for this year, 27 put KKD at 30 times and it's always sold at 40 to 90 times over the past two years. In fact when it hit 46 it was going to earn .66 for 2002 and that's up around 70 times earnings. For you to conclude that a 30 PE limits KKD on the upside is simply far fetched.
traded above $39 only two days in the last six months and that's when, by your own admission, you were a big buyer? Do you think you're fooling anyone here?
Maybe you should stick to what you do best, whatever that is...
Yup, it was clearly The Impostor.
The easiest way to tell its The Impostor (who has the exact same ID as Mikey), is in retrospect, when the call proves to be WRONG. By this criteria, The Impostor posts far more often the authentic Mikem.
No no! What Mikem (the real one, not The Impostor) posts is of the utmost importance. He reminds of this on a regular basis. Following his sage advice will make you rich, beyond even your wildest dreams!
Last week I was starting to have hope for you. Your posts were bordering on witty, clever, and light hearted. You've slipped back over to the dark side this week. I don't know that I'm going to be able to help you. You're on your own now.