Cramer just happened to have the CEO on ELOS on his show tonight -- the day I buy in and get hammered...
Now Cramer pumped ELOS once before -- the stock shot up the next day and has been dropping ever since. Now he's a little more cautious, despite a lower price, better earnings, more cash. He just can't recommend a stock that's not already in a bull trend. Unbelieveable.
Wow -- and it appears AH it was trading above my buy-in price... guess they still don't mind being hosed by Cramer.
The stock was obviously under the shorts today. You just can't bet against them. Like the guys shorting AMZN, NILE, TNH -- if it's a low floater -- you are absolutely fucked. No way are they letting the shorts out -- the shorts become the sacrificial lambs who will be forced to cover -- allowing the big positions to get out with a big win.
I think the best run I've ever seen was ERS -- from 8 to 50 -- and now trades under 7. 'Value' is meaningless. This game is about your ability to ride a wave and not let it crash with you on it.
I have not done it all that well. I use fundamental criteria because despite the manipulations, the numbers do count for something. They can't short a stock like ELOS with $192 million in cash, growing 25% a year, earning 37 cents last q. down to zero.
The reason I bought ELOS in the first place was an article I read in NYTimes about these women in L.A. who spend around 10 to 30 GRAND a month on beauty enhancements -- face peels, tans, lipo, botox -- all that crap. These women don't care, they'd rather be pretty than rich and they get addicted. And there are tons of these baby boomers getting wrinkles. It's a slamdunk. These are all ladies who make big money / wealthy types and you don't accept looking ugly, even in a recession. Screw that.
I made a lot of money a long time ago by buying stuff nobody wanted and waiting. I can wait. I know I've got cheap stocks that are growing. The shorts only have the short term.