Friday, October 23, 2009
Finally--Some capitulation by the shorts on AMZN!!
Irrational exuberance? So what. Deal with it. You guys made the prints! And there isn't that many stocks that are winners in this market--so they pay more for them!
And that means they squeeze the lifeblood out of the shorts. Which brings me to the cousin of the Amazon--- the Blue Nile!
Now I know I touted this number before at 46, and sold it at 53, and now it's at 65. But we are in a vastly different market now.
It's squeeze time! Blue Nile (NILE 65) has 14.5 million shares outstanding with 2.8 million of them sold short. And it reports earnings on November 5th.
Does anybody really want to be short this name before earnings?
And doesn't PCLN come out with earnings on November 2?
So does anybody really think that these shorts want to get hit with Teddy Rooselvet's club again?
Now before I said that the only thing the shorts had in common with Roosevelt was their struggle with the Amazon.
I forgot to mention something else.
Roosevelt's spectacles always got fogged up, so he couldn't see straight.
Which is why we have the above picture.
The fog of the Blue Nile Falls!
Just to make the shorts not see straight again!
Posted by Palmoni at 5:08 PM