How about a SHORT SALE of Priceline. WAY WAY overvalued. Sure it may run up to $1,000 but in the event of any market downturn this thing slides to $400 before you can say "what happened".
I shorted a few shares on Wednesday, covered on Friday and made a small gain. I will be shorting it again next week.
If you read thoroughly my original post you will see that I did say PCLN could easily run to $1,000. That does not mean it's not overvalued. Earnings are out tomorrow. I have done two trades on it in past 2 weeks, one for a gain, one for a loss. I've been out of the stock for a week now. I'm waiting for the right moment to get back in --- perhaps a day when stock futures are down triple digits at 9:00am. I've been in high yield bonds for the most part for past several years and have done just fine, thank you.
I never short stocks no matter how overvalued they may seem to be. Did anyone think a few months ago that Tesla would ever see $130 a share? How about AMZN at $300 a share when they are actually losing money? Or for that matter, what about BBY near $30 when in February it was 412 and seemingly on the way to bankruptcy.
I don't need to take any chances at all when I can sell naked puts the likes of the JCP Feb 8-strikes which will return over 2% a month if the stock just holds $9 a share (the 10-year low is $13.55, their properties were recently appraised at $18 per share and George Soros just bought 9% of tjhe company's shares at $16 apiece).
I'll let others do the gambling while I prefer to invest in the nearly sure things.
By the way, the last time you posted a message to me, you were wondering how I was doing on my GG 23-strike naked put out to Jan. 2015. With the stock now back to almost $29, do you still think that I'm in trouble on that one?
As I told you then, I simply don't panic when a stock tanks irrationally. In the two uyears since I made my great options discovery, I haven't had a single underlying stock that has been a loser IN THE FULLNESS OF TIME. I don't earn 40% and 50% annually on my portfolios by having to take a lot of losses. I assure you that in the fullness of time I'll earn a very handsome annual return with GG.
By the way, are you selling very deep-out-0of-the-money naked puts and doing it at TD Ameritrade? If not, may I ask why not? Haven't you been noticing the other-worldly results that I continue to achieve? What are you waiting for?
There are many ways to make money, your way is one of them but not the only way. I thought the GG options only went to Jan 2014, but either way that one is a coin toss. I will be shorting PCLN again this week. Just waiting for a day when market futures are definitely red before the market open.
He who laughs last, laughs best. I covered at $948 so again, the run up doesn't concern me. All PCLN does is book hotels & flights. It's not deserving of a $1,000 share price. I will be shorting it again. It dropped $60 in something like 5 days not that long ago.
hey bud---remember me avy and coolcat from last year---well they gave up but i was checking in and well interesting to see the few alias remaining---hi to you and pebs and i thing bubblyjoe is real too---and dumb alan still thinks we three are one---hi from pa--strasburg now--OH THE REPLY WAS MEANT TO SAY ALAN DOESNT DO WINNING PLAYS-- that i have seen