Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

punkle, you are arguing with the "tape", I remember in 2000 when people were rationally shorting Yahoo, and I kept warning them about momo and snorters, and they kept doubling up all the way to the top. It pains me to see that happen. Wait until it breaks, right now, shorting EXPE is like fervent righteous religion, you may be right, bit it will take you to an early grave (g). I don't argue the valuation point, but look at it from another point of view. Many funds have to have all their money invested, many funds have to allocate a given percentage of that money to Travel and Entertainment" or any other class that EXPE could belong to, if it is the latter, they got to chose EXPE because the rest (airlines) are even more overvalued. Add to that the massive short position and you are really positioning yourself for a painful squeeze. Maybe the Barron's comment will have some cooling effect on Monday, use such a drop to cover, IMTO, because once the wave of sellers is over, the short are going to run all over each other to cover.

Zeev