Originally Posted by Mori****a System
BBY and HPQ short also not looking so hot
....lucky that I was skeptical about the latter.
OTOH, tomorrow looks to be interesting for DNB.
Yeah, I covered HPQ today solely to re-short later. Still way up on RIM, NOK, NOG, LULU, et al.
I think the whole market is headed up so I increased net exposure and reduced shorts today. Any good news from EU would rocket this to 15-1600 on the SPX imo. I mean, my shorts are a much smaller % of my net than my longs, but why stand in front of the train?
Looking harder at GPOR, however, this is definitely a scammy stock with a scam bank pump N dumping it with scam insider dealings going on.
It's a real company, but much of the 'value' is coming from promotional hype, self-dealing, and today's short covering [obvs]. This should go to $10-15 sooner or later.
CapEx has been running like 2.5x NI, they just keep issuing hundreds of millions of stock, 300m+ last year for a firm that had a $1bn mkt cap last month. You can't make $25m/Q and spend $55m/Q forever...esp with a depleting asset. YMMV.
* NOG is very similar story to GPOR. Promotional, self-dealing mgmt. Made $47m last two years spent $530m. $1bn mkt cap, issued $350m stock past couple years. Stink, stank, stunk.
See the history of ATPG for more details - dilution, leverage, poor mgmt, overpromise and underdeliver, hyping promoters, wild claims of 'huge' finds, et al.