With the overall markets crumbling, the Dow trying desperately to keep from breaking its 2008 lows, I’m getting more and more emails from people getting all worked up trying to find a good stock in which to park their money. Considering I’m an opportunistic short seller who chastises investors for naively thinking they’re smart/lucky enough to pick one or more of the 50% of stocks that move higher each year (yup, 50% drop each and every year, your odds suck you friggin addicts), you regular readers know how amusing this is to me.
Nonetheless, the lesson in my latest AOL article is a basic one, but an important one–in this market environment, you must learn to short sell if you want to profit.
It’s not unpatriotic, it’s not complicated, it’s just the opposite of buying and for some dark reason, it’s my specialty. Whether you want to short broken charts like Apple Inc. (Nasdaq: AAPL) or bloated oil-breakouts-turned-Cramer-pumps like Oilsands Quest Inc. (AMEX: BQI), it’s up to you.
I don’t recommend shorting either of those tow, you guys know what I like shorting, pure pump and dumps that have risen exponentially, and right now besides HYHY–which still might have further to go–nothing looks particularly mouth watering.
So I wait…fully liquid and proud of my mistake-filled-yet-now-near-60%-over-the
-past-few-months-return, indifferent to a market meltdown, bounce, correction, whatever…
Posted in AOL, Patience, Short Selling