Spiking up, gapping up is one thing, MMs do that very easy
but when was the last time WDC held on to its gains??? ask yourself that when an hour or two passes tomorrow after open. so right before lunch, tell me what the stock price is, and tell me i was wrong to short at $39 AH today.
who volunteers to do that??? i will be here at 1130 am tomorrow, will you?
Earnings are here to stay.
Because there is no competition
there is hitachi with a high margin enterprise business
and more sales due to hitachi
more high margin sales
plus all the mobility adoption in china / india everywhere
uploading photos and vides
my sister does not have a computer
she has an ipad
and has uploaded gigas and gigas to facebook
I think the days of booms and bust are over
consolidation is too big
now the company follows the economy
or disasters like the flooding
not booms and busts or pricewars like before
Give it a few quarters and youll see a p/e > 10 and multiply that by the eps of 10 or 12 after buy backs
wdc is at least 10x12=120 but the beauty is that the market do not know it
even Luzco says the stock is completely manipulated: http://investing.kuchita.com/2012/07/27/western-digital-yet-some-some-more-thoughts/
Yes, I'm disappointed you didn't show to tell us how much money you made on your short. Did you panic and cover at $40. On the bright side, a loss is a lesson learned. I just saw that the Nasdaq futures are up 0.5% after hours so we're headed for a strong opening tomorrow.
After hours volume was 1.1 million shares which is huge and indicates the likelihood that the after hours gains will stick or could be added to tomorrow, particularly if the overall market is in a bullish mood tomorrow.
I don't know about shorting but I am planning on buying after the big dip thata coming. Any time a stock shoots up that fast it comes back down. I rode this stock up for months and was stupid and rode it down before getting away from it for awhile. After the dip I will be back on it.
I agree that a Fibonacci retracement of any gain could happen so maybe you could play a dangerous game and short/cover within a short time frame to make some money. However, this stock is so undervalued (fair value is $75-88 depending on whether you back out cash) that it would be risky to short for anything longer than a day or two IMHO. For someone like me who is a long term investor in WDC, it doesn't really matter to me what you do.
You initiated so many posts in such a short time frame. It is clear to me that you have lost confidence with your position, panic and try to influence people here to sell to help your position.
Very simple maths. EPS of USD 10. PE is at 4 right now ith strong cash flow. Long Term this stock is way too cheap. I am not going to sell even if it hit USD 50 tomorrow. Good Luck !
forget luck!; its foolish to play against earnings; its an unknown.
the fundamentals are ridiculous. the stock deserves a much higher price.
its been stagnant due to a bad conference call from last time around, and fears of SSD. HDD is still gonna be around.
There is a post with you saying you shorted at $38, now its at $39. I have a feeling that number will keep climbing the higher the stock goes so that you never lose.
I'm going to wager that you really shorted at $30 and been praying that it drops on earnings. Now you are really f***ed.