holywallst, we meet here again. Remember SRPT? Now, I also shorted YELP at $91.07, but I've covered. I made out with a mere $3600. I see it at over $100 tomorrow, as people are banking on the fact that YELP provides a service that people really use, and its earnings outlook isn't bad also. Look out. I'm long now, and I have very well-positioned call options.
so far I have covered 2k shares of my 10k shares sold short at 91. Thanks to TWTR valuation (67 times sales revenue), everyone think YELP is cheap, and has more room to bubble up.
The momentum so far is on the LONGs side, thus you may want to be careful shorting this with your life savings. Especially if you are on margin.
I for one got a few million $$$ in my war chest in the event this P.O.S runs up again.
This is a game of patience, and deeper pockets as MMs will do anything to shake off the weak hands (long or short).
Sentiment: Strong Sell