Short OSTK
- Thread starter BlueHorseshoe
- Start date
Personally, I wouldn't want to jump into a short right now, until it broke what might be some minor support. Looks like resistance last week or so, and last night held up real well as support.
Quote from NoDoji:
Very sadly, my broker had no shares available
It was indeed an excellent intraday short.
Isnt' that interesting? Always before you could get a 'locate' if you're willing to pay.
Of course, the dead can see there was never really a legit locate, was there? Now, all of the sudden, all over the Street, there are no more "easy borrows" Everything costs money. Bernie Madoff is the face of Wall St. corruption. And you want to short a hard to borrow security.
There's another thread going you should visit. I believe it's "If you were going to kill yourself, how would you do it?"
Hey kid - go get bent.
Try using the shift key. This is what you do to start a sentence.
Quotes are used to show that someone else wrote it. An example would be: "in economics that is the equivalent of being graduated from elementary school" is not grammatically correct.
Now go back to texting your boyfriend, you little peckerweed.
Funny - I woke up this morning in Asia, and I see there are several posts on this thread that I cannot see - certainly because the poster(s) is/are on my ignore list. Pity I can't remove them from the thread altogether, but such is ET life.
The stock was down hard yesterday, and there were a couple of short-term comments from traders overnight, so I just want to clarify this: my position is long-term - circa five years, if bankruptcy takes that long - and my target exit is 50 cents. Also, I don't leverage on shorts - only putting about 4% of my portfolio at risk on this. Thus, leverage should never shake me out. You also won't hear me gloating about days like today, nor will I take much notice unless the shares should pop above $25. Price action on dying companies tends to be very erratic, so shorts need to be steeled for many contingencies.
Traders are welcome here (obviously), but don't look to me for intra-day or 'swing trading' advice. Perhaps some people have a knack for that sort of timing. I certainly don't.
All the best.
The stock was down hard yesterday, and there were a couple of short-term comments from traders overnight, so I just want to clarify this: my position is long-term - circa five years, if bankruptcy takes that long - and my target exit is 50 cents. Also, I don't leverage on shorts - only putting about 4% of my portfolio at risk on this. Thus, leverage should never shake me out. You also won't hear me gloating about days like today, nor will I take much notice unless the shares should pop above $25. Price action on dying companies tends to be very erratic, so shorts need to be steeled for many contingencies.
Traders are welcome here (obviously), but don't look to me for intra-day or 'swing trading' advice. Perhaps some people have a knack for that sort of timing. I certainly don't.
All the best.
This is the video I posted earlier - take note what Byrne says from 3:00-3:30 on the vid: He states that short-sellers caused the deaths of US soldiers in Iraq for the sake of a profit. I've never seen a CEO say something so outrageous in a public forum. Is this appropriate conduct for a CEO? Shouldn't he be running his f*cking company?
Short-selling is a public good - a necessary balance to the nonsense constantly spewed by self-interested executives like Byrne. OSTK is already effectively bankrupt. Their only avenue to cash now is a private placement, which naturally must come at a severe discount to market.
Shorting this is like shooting a fish in a barrel. Only more fun.
http://www.youtube.com/watch?v=M_FZO9-ZIWU
Short-selling is a public good - a necessary balance to the nonsense constantly spewed by self-interested executives like Byrne. OSTK is already effectively bankrupt. Their only avenue to cash now is a private placement, which naturally must come at a severe discount to market.
Shorting this is like shooting a fish in a barrel. Only more fun.
http://www.youtube.com/watch?v=M_FZO9-ZIWU
Seems logical to me. I gave him the FRPT story. the company wants to do a secondary,a nd the get naked shorted to the point where they can't raise money.
I also gave him the story of the only GI that was killed. The kid was hanging out of the MG Turrent, and when the vehicle flipped, he was killed. The other GI's were safe.
http://www.jpost.com/servlet/Satellite?cid=1200572515416&pagename=JPost/JPArticle/ShowFull
Don't see a problem with this at all. Neither did the Colonel who helped Patrick with the story.
You're just looking more selfish and greedy by the day. Keep it up.
By the way. Look at an FRPT chart. Short that one, too.
Next, why not bring up DNDN? He did that one too. I mean, like who needs a cure for prostate cancer, when you need to make a buck.
You seem to be under the delusion that this thread is about you. I assure you it is not. It is about the facts that Byrne is a clownish CEO, Overstock is a profitless mistake, and OSTK is a worthless stock.
But since Byrne brought it up, FRPT will go bankrupt too - its outrageous that company would seek to rape its shareholders (that's a fancy word for 'owners') with a secondary when we will essentially be out of Iraq in ~2 years. Shorting defense contractors is a great trade right now ... but that is another thread.