The Shorting of Frauds, Overhyped and Bankrupt Stocks Journal

Not a real time call but I could care less about cred, I've been short UNXL via OCT35 puts from around 28. Been taking heat obviously, but it's a small position and I really believe even if true, the bullish case has been fully priced in. If the stock fails to deliver or is fake, the entire move could be retraced. Could have timed it better, but this isn't in my trading account and the thesis isn't technical/price.

And for those of you who haven't met ralph, yeah he's abrasive but the guy puts up good calls/points.
 
Covered UNXL, I should have covered at the close and went long. These guys are really good at exploiting the high short interest. they are squeezing the citron followers from yesterday
 
"Shipping companies' rally continues but Wells Fargo analyst skeptical
Dry bulk shipping companies are advancing, continuing a rally which began several weeks ago. A likely drop in the supply of dry bulk ships and optimism about an upturn in global trade may be boosting the stocks. Shipping executives said on March 6 that new dry bulk ship deliveries would be below expectations this year, while vessel scrapping would continue to proceed at high rates, reducing competition, Reuters reported. Meanwhile, investors have become more optimistic that the recovery in the Chinese economy will spur increases in global trade, Wells Fargo analyst Michael Webber wrote in a note to investors earlier today. Webber believes that the rally has come too early and warns that multiple companies in the sector may not survive. Specifically, he believes that the balance sheets of Eagle Bulk Shipping (EGLE), Exel Maritime (EXM) and Genco Shipping (GNK) pose significant risks, while DryShips (DRYS) may have to sell more shares in order to shore up its balance sheet. Webber maintained Underperform ratings on Diana Shipping (DSX), Eagle Bulk Shipping, Excel Maritime and Genco. He maintained Market Perform ratings on DryShips and EuroSeas (ESEA). In mid-afternoon trading, Eagle Bulk soared 14.67% to $3.90, Excel Maritime jumped 13.3% to $1, Genco was flat at $3, Diana Shipping rose 6% to $11.20 and Euroseas climbed 5% to $1.05."

OSGIQ the most ridiculous of these shipping stocks. company is in chap 11, stock is up huge
 
UNXL weak as hell. These HFTs are just too good, they shook all the shorts out on open. I need to stop trading this stock
 
Hence why I shorted via puts, it allows for a DD higher than what you would tolerate with the underlying. You do pay up in premo of course, but depends on your timeframe. I get the feeling you guys aren't planning on holding a UNXL short for months.
 
Jj: if it goes in my favour i'll hold the unxl short for years even.
Daal. Did you cover unxl? I have a suspicion you used too much size if the move at the open shook you out.
Side note unxl behaves remarkably like hlf intraday.
 
Quote from Chuck Krug:

Jj: if it goes in my favour i'll hold the unxl short for years even.
Daal. Did you cover unxl? I have a suspicion you used too much size if the move at the open shook you out.
Side note unxl behaves remarkably like hlf intraday.
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I supposed its due the short interest. Z is also similar, shorting high short interest stocks is really difficult
 
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