Another occasional winner, folks! And this one is a doozy.
In my video to everyone from Sunday, Santa Claws Part 3, one of my short ideas was IMGN (by chance, it happens to be the thumbnail image of the video). It lost half its value this morning, even though, as the geniuses at CNBC might say, it is “off the lows”. Still, this is the kind of short position that is oh-so-sweet when it works:
It breaks my heart to see awesome short setups and not be able to find any shares. Nonetheless, I shared this idea – El Pollo Loco – as a short a couple of weeks ago, and it’s doing great. I haven’t made a penny off my idea, but I hope a few of you were able to find stock.
I don’t offer up many long ideas (since, you know, I’m psychotic), but Fiesta is one I’ve mentioned a few times, and it’s doing dandy. See? Slope isn’t only bear stuff!
Long-term readers know that I’ve done many, many posts about shorting McDermott. I think the one that started it all was from May 15 2013. What’s easy to forget is how this short has behaved over the long haul since that initial post (marked with an arrow); check it out:
So what do I think would make a great long-term short now? Simple: AMZN.