Holdings > Holding Rationales > If At First You Short A Pump A...
Holding: EDEN
TimothySykes [83434] 
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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status |
|---|---|---|---|---|---|---|
| EDEN | Specialty Chemicals | 17.46% | n/a | 10 | 22-Apr-08 | Prior Holding |
22-Apr-08
If At First You Short A Pump And Dump And Succeed, Try, Try Again!
Holding Rationale for EDEN.
As I’ve posted HERE and HERE, EDEN was a great pump due to a 100% spike caused by a fluffy inaccurate article written by a major media outlet—my former employer—for a bit—TheStreet.com (they later corrected it, but the damage was already done). The first time I shorted at $2.55, impatiently/conservatively covering at $2.35 for a decent $180 profit. But given its tiny tiny tiny $6 million marketcap and annoying illiquidity, I don’t regret covering quickly…that much…cuz as I’ve shown on fellow microcap pump and dumpers PSTI, REED and SHZ, these suckers remain good shorts for many days.
So, when I re-shorted EDEN mid-day yesterday on a slight low volume bounce up from $2 to $2.20, I had every confidence in the world we’d see $2 again and then the question would be if there were stop losses there—as often happens at big fat round numbers. Despite some ever surprisingly determined buyers and a solidly bearish close at $2.04—caused by a 49,000 share sell order—I was even more confident of a big drop today. … [visit site to read more]
Posted at 15:02 in Holding Rationales | Permalink | Top
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