RE:gullible1I am not short PLI or any other stock. I do not believe in shorting.
Consider this: when you short, you are limiting your gains but there's no roof on how much you can lose. The risk/reward does not seem worth it to me. You are at an even greater disadvantage if the stock you short has a dividend. What happens if in the middle of your short, your broker wants back the shares? Shorting is not for me. Shorting is only for the most sophisticated sharks who have way more money and smarts than me.
I have been following stockhouse boards and articles for over a year WITHOUT SIGNING UP or contributing to the forums. I have been on here following stocks like Endeavour Mining, Silver Standard Resources and Nevsun Resources.
I need a BIG reason to sign up and contribute to a forum. The recent price action and development on a stock that I owned this summer (Prometic) certainly qualifies. I feel like some of the posters here saved my butt when they pointed out that the summer season is super slow (no catalysts). It allowed me to get out of Prometic with a super tiny loss.
I'm trying to return the favour now. It's obvious that Prometic longs are in for a world of hurt. Not everybody knows how to protect themselves from disaster. Monday will be a massacre. I congratulated those who had the foresight to sell their shares Friday (or even sell half). Despite the many insults from gullible PLI bulls, I think they will see the light sooner and save SOME of their money if SOMEBODY levels with them. Will I profit (on the short or on the long side)? No.
I'm happy that some posters on here made it possible for me to exit my position in the summer for $2.77 and a ridiculously small loss. Thanks guys.