Suhail's thesis may be sound but they were too greedy. Nothing wrong with being short a stock, buy why be so public about it. So I sent them this message:
Please take a look at our conversation from January 16th. I indicated unequivocally that $VEEV was going to trend higher into earnings towards $40. Low and behold, here we are. Your research may be sound, but the stock market it not always about being right or having a sound thesis. It's about capital preservation and capital gains. When you had significant gains from $44 to $30 you should have taken profits like some of the more nimble shorts. This recent squeeze was inevitable and easy to predict by savvy traders. As the saying goes, both bulls and bears make money but pigs get slaughtered. This has the potential for going even higher technically regardless of fundamentals. The moral of the story is: take profits when you have big gains regardless of your conviction. And to practice what I preach I'm taking profits on my long positions after the recent rally in the shares. If it goes higher, oh well. I may even go short if it has a significant pop after earnings, but I'll be sure to set a stop loss or cover when the technicals align. Good luck!
Going towards $40 before earnings. Now the longs need to be warned. Good time to take profits and wait until after the report to take a new position. Don't be greedy!!!
You hoping for another $1 gain? Just cover now, wait for a bounce, then short again if you have to. Don't get greedy. At least take something off the table.
Headed to the low $60s before a bounce.
Some institutions actually believe CTXS will miss earnings despite big runs in it's peers like RHT, FFIV and VMW. They sell every rally. Either they know something we don't or they are dead wrong.
Actually it's just the opposite. Higher highs and higher lows. Once it breaks above $65, No resistance until the $70s.
I wouldn't trust this stock with my grandma's money. It's pushing up against a 5 year high. This will likely head back under $2 in the next year. They always disappoint after a nice run.
Yup, I saw similar shows in EXPE, RHT and PANW. Take a look at those charts. Shorts had their way for the entire quarter after the previous earnings, but after the most recent earnings report, shorts were destroyed when stocks went from 52 week lows to 52 week highs.
No surprise folks. Sellers came in as expected. Shorts are stubborn and will continue until a short squeeze event.