Knowledge: ERS earnings will likely be flat, the problem is that fundamentals are not the driver behind this move .... anybody can see that earnings have been sequentially flat for 2 quarters in a row already .... will a third straight quarter of flat earnings really surprise or bother anybody ?
On the other hand ... this will be the first quarter which will show year over year earnings growth as minimal .... last year they had a great 1st quarter .... and the stock could be bought at under $5 AFTER they reported EPS of $0.23. Now the stock is up an incredible 1200%+ and earnings are likely to be only a bit more than last year ....
The IBD ranking is likely to drop significantly and hopefully that will be the catalyst to reverse the uptrend. The downtrend will hopefully be swift and dramatic .... but who knows ?
I'm generally successful with my short plays, but have had a few losers as well, like NFLX .... but I keep my positions fairly small to minimize the risk .... my ERS short is still under 1% of my total portfolio valuation and I'm committed to no adding another single short share !
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