Looking at this space right now is just depressing, even for a bear.
Seriously, do you guys realize how much money we left on the table by not shorting the living daylights out of this space from March onwards?
When CCME failed, that was a gift to those of us who knew the terrains of the space. Just a perfect pitch to knock out of the park, because we knew exactly what to short. We knew all of the hidden names that were holding up on low volume, about to get torn apart as the truth emerged. If CCME, our baby, was a fraud, they all had to be frauds. That should have been obvious to everyone.
Back then, there were tons of shares available to short in garbage names. Want to short NEWN at 6.00? Want to short EDS at 7.00? Want to short HRBN at 18.00? Want to short CHNG at 5.50? Yep, there were shares. Everywhere, there were shares in all of them. Now, unfortunately, the trade has become completely crowded, or the stocks have imploded. The biggest challenge is finding a way to build the position, and to hedge against penny stock pumps or oversold bounces.
Personally, I didn't take as large of a short position as I should have when CCME failed. I was 100% positive that the entire space was a massive sea of fraud. I should have made this a 100% portfolio bet.
Some of the deeper shorts who really bet the barn on this space are up like 80% right now. It's crazy.
Lots of money left on the table, unfortunately.
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