8. "yeah the valuations are insane. a P/E of 77 and up 400% on.." In response to In response to 7 Wed Dec-01-10 10:59 AM by Flash80
the year?! FOH.
i shorted it on 10/6 after it'd made a key reversal on big volume, but then i covered when it was clear they were gonna hold it @ $149.
the problem is that it gapped-up from 173 to 181 and the shorts had to cover AGAIN.
the parabolic move it's made is remarkable. technically overbought, yes, but i ain't getting in front of that freight train until it slows down.
but it is lagging the market today, and has almost traded it's 10-day-avg volume (5.5 MM shares)...and it's only 9am PST. so the sellers are out there.
i've been tied up long in FDX, RIMM and X and haven't been net-net short since mid-november, so i ain't mad. the S&P wants to test 1220 again. if the ADP jobs report that came out today is a harbinger for friday's employment #, we should get there.