Jiesen tries to take over the world

[jiesen]

Jiesen,

You've just taken the fear out of me, and now I am greedy. Let's short this dog!

Patience, NBB! There is a time to short this stock, but it isn't this time.

For me, a stock has to be severly overvalued, and people should be so raving mad about the stock you can see them foaming at the mouth when they talk about it (see Jim Cramer at his finest), in order for it to be a short candidate... not just a dog.

Here are 2 of my past shorts:

CNXT at 128 in 2000

http://finance.yahoo.com/q/bc?s=CNXT&t=my&l=on&z=m&q=l&c=

TASR at 120 (30) in April 2004

http://finance.yahoo.com/q/bc?s=TASR&t=2y&l=on&z=m&q=l&c=

Now those are my kinds of shorts. Which one do you think worked out best for me?

[New-born baby]

Patience, NBB! There is a time to short this stock, but it isn't this time.

For me, a stock has to be severly overvalued, and people should be so raving mad about the stock you can see them foaming at the mouth when they talk about it (see Jim Cramer at his finest), in order for it to be a short candidate... not just a dog.

Here are 2 of my past shorts:

CNXT at 128 in 2000

http://finance.yahoo.com/q/bc?s=CNXT&t=my&l=on&z=m&q=l&c=

TASR at 120 (30) in April 2004

http://finance.yahoo.com/q/bc?s=TASR&t=2y&l=on&z=m&q=l&c=

Now those are my kinds of shorts. Which one do you think worked out best for me?

Jiesen,

Must have been CNXT, although there was a good time to short TASR.

I do agree with you: best to short stocks Jim Cramer is foaming at the mouth about.

Just make sure you put up your next call on the board so we can learn something. And thanks!

[jiesen]

Jiesen,

Must have been CNXT, although there was a good time to short TASR.

I do agree with you: best to short stocks Jim Cramer is foaming at the mouth about.

Just make sure you put up your next call on the board so we can learn something. And thanks!

Nope, I made money on the TASR short, though technically, I didn't go short. I bought puts instead. I actually did short CNXT at 128, but I chickened out and covered at 132 for a loss. Shorting is serious business with potentially unlimited losses. Even when you're right, you can be bankrupted before you're vindicated. Had I bought puts at that time instead of shorting, I'd have capped any liability and would probably not have let the price fluctuation shake me out. I could have made a killing on that trade!

Don't worry, I'll put all of my calls on the board, but I warn you not to follow me, because doing so may be hazardous to your financial health.

[MickyMouse]

Don't worry, I'll put all of my calls on the board, but I warn you not to follow me, because doing so may be hazardous to your financial health.

Thanks for the warning label. These days we get a lot of from such as MRK maybe ELN.

Micky

[jiesen]

Just sold out of CNXT today at 1.66. I've decided that this one probably isn't going anywhere after all.

[jiesen]

I put the proceeds from the CNXT sale into LJPC at 1.2. Both are risky, but I think the potential payoff for LJPC is far better.

[jiesen]

Jiesen,

I didn't think MRK was a good buy, and you made the big bucks off of it.
I don't like ELN at this time, so you ought to be able to retire off of it.

But my observation is that it has had huge volume this week, 150m shares on Monday, 99m Tuesday, 75m Wed and another 125m yesterday, plus todays 75m, and that screams [no whisper on this chart] to me that the institutions are leaving ELN. If Tysabri doesn't come back, they have nothing to sell. And their debt was downgraded yesterday.

Wishing all the best for your investment in ELN.

http://finance.yahoo.com/q/bc?s=ELN&t=5d&l=on&z=m&q=l&c=
Hmmm, I guess 5.6 was an even better entry than I thought. Maybe I could have retired off of that...

[New-born baby]

http://finance.yahoo.com/q/bc?s=ELN&t=5d&l=on&z=m&q=l&c=
Hmmm, I guess 5.6 was an even better entry than I thought. Maybe I could have retired off of that...

Jiesen,

I told you: you're a genius with drug stocks. Anybody that can buy the bottom on ELN is a gutsy genius.

[jiesen]

This is a good read:

http://www.centman.com/PDF/ValueInvDec2004.pdf

[jiesen]

Bought AMLN

Just bought AMLN at 21.4 looking for a quick buck or two. (about 2% position)

[jiesen]

Bought XING at $6

in one more attempt to catch the bottom here, I'm adding to my XING (~1%) today at about $6.

[jiesen]

in one more attempt to catch the bottom here, I'm adding to my XING (~1%) today at about $6.

sold the 1% XING position today for $6, breaking even. I decided that I didn't catch the bottom after all, and that trying to do so on XING was probably not a good idea. I'll continue with my strategy of reducing my XING position, but definitely at higher prices than $6...

[jiesen]

hmmm, just when I cough back up the shares, XING finally finds some support at $6. maybe I did make a good call, and should have held on. oh well, it happens...

[jiesen]

Just bought AMLN at 21.4 looking for a quick buck or two. (about 2% position)

Damn, AMLN hit my mental stop today, so I sold out at 19.5. Lost 10% on that trade... ouch, that stings! I thought that AMLN would be a sure thing after finally getting approval after 18 years. Well that'll teach me.

[jiesen]

sold NGPS at 19

sold half of my NGPS at 19 today (cutting my losses from 20), decided to put it into the next $$MM pick instead.