Cramer: "Netflix Makes Bacon of Piggish Bears"
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Cramer: "Netflix Makes Bacon of Piggish Bears"
Cramer apresenta mais um exemplo clássico de como o "esticar da corda" dos shorts pode ser extremamente perigoso, pois basta um abanão para que se dê um violento "short covering".
Mesmo em tendências marcadamente descendentes há estes spikes que fazem estragos. Sempre que estou curto, tento lembrar-me destes casos clássicos para ir recolhendo alguns lucros.
Ulisses
"Netflix Makes Bacon of Piggish Bears"
By James J. Cramer
RealMoney.com Columnist
5/19/2005 1:25 PM EDT
"The short side is just so darned crowded that it's a wonder stocks don't just explode upward on any bit of good news.
Netflix (NFLX:Nasdaq - commentary - research) is a demonstration of that. Here's a stock with a 44 million-share float and 14 million of it is short! You do the math. That's ludicrous. More than 30% short?
Who would risk such an abomination?
When people short stock, they have to worry about two things: the fundamentals and the mechanics. The mechanics were so truly trumping the fundies here that the shorts just got greedy. They had won. How could they not have declared victory, given how much of Netflix's float is short? How can that be?
Wal-Mart's (WMT:NYSE - commentary - research) link with Netflix is exactly what happens when you have this kind of mechanical imbalance. I have seen it time and again.
Shorts need to understand that bulls make money, bears make money and pigs get slaughtered. The short bears became pigs in this name, and now they are bacon. "
(in www.realmoney.com)
Mesmo em tendências marcadamente descendentes há estes spikes que fazem estragos. Sempre que estou curto, tento lembrar-me destes casos clássicos para ir recolhendo alguns lucros.
Ulisses
"Netflix Makes Bacon of Piggish Bears"
By James J. Cramer
RealMoney.com Columnist
5/19/2005 1:25 PM EDT
"The short side is just so darned crowded that it's a wonder stocks don't just explode upward on any bit of good news.
Netflix (NFLX:Nasdaq - commentary - research) is a demonstration of that. Here's a stock with a 44 million-share float and 14 million of it is short! You do the math. That's ludicrous. More than 30% short?
Who would risk such an abomination?
When people short stock, they have to worry about two things: the fundamentals and the mechanics. The mechanics were so truly trumping the fundies here that the shorts just got greedy. They had won. How could they not have declared victory, given how much of Netflix's float is short? How can that be?
Wal-Mart's (WMT:NYSE - commentary - research) link with Netflix is exactly what happens when you have this kind of mechanical imbalance. I have seen it time and again.
Shorts need to understand that bulls make money, bears make money and pigs get slaughtered. The short bears became pigs in this name, and now they are bacon. "
(in www.realmoney.com)
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