Replies to post #12899 on Short Term Trading Member Forum

[Manti]

Blis: This is why I wouldn't buy ENWV:

http://stockcharts.com/def/servlet/SC.web?c=enwv

Now, as far as short interest:

You are correct that as a general rule short interest can be a contrarian indicator for the indexes, especially if the retail guy is the one short and not the commercials....... However, I learned years ago that the short money is generally also the "smart" money with individual stocks.

My guess is that with ENWV retailers were shorting it all along as shares were available (I shorted at 48+ and tried again higher but no shares were available) and then they were getting squeezed by whomever was doing the share sale (the big boy) who in turn was shorting to them as they covered.

This did end up a bad trade for me as I didn't know the rules for a boxed position... I boxed my shares thinking to limit the loss on my short position as it found the top, which I did, (and I also figured that I would lose my short position if I covered due to lack of shares to short) but then I was unable to sell my long position at 54, which I had planned on doing... I had to cover before I could sell, and then no more shares were available. Live and learn... no more boxing for me.