by Gavin M TWITTER IPO tomorrow. Square IPO coming up soon. Are we seeing a resurgence of 2001?? I'm not a doomsday person but when unprofitable companies seek public funds in order to further whatever bs business models they have, it's always suspect. But who knows, the same was said about Google back in 1999. Pundits even called it absurd to pay $100/share for an internet search engine company. We all know how that has turned out 13 years later. Perhaps the most idiotic thing I always read are the people still in BlackBerry. People buying at the current levels. If you have months and years of patience, then by all means go for it. This company is in total denial. It had a grand chance to get bought but did not take it. While I will admit Fairfax had a hard time to pony up the funds for BlackBerry, the company should have really gone for it. What we have now is another $1 Billion lifeline and we know how badly this is going to end. Of course, the ultra optimists are going to hope against hope that BlackBerry will somehow increase their profits out of nowhere. I seriously think BlackBerry is dead. It has no hope to ever get back up, ever. You heard it here from me, Gavin, on Nov 6, 2013. So you can look back sometime in 2014 that I made this post early to predict BlackBerry's demise. Sadly, I'm a momentum trader. This means I don't have time to put on a directional short on BBRY for months. I will wait until they are almost out of funds then I will time my shorts for efficiency. Until then, I would not touch BlackBerry here even with a 6-foot pole. I would not buy or short BlackBerry. I will just wait for it to start dying. Fret not, I will be back to short this sonbitch. It has been the best short I've ever done for 2013 and I cannot be more thankful. Enjoy Twitter tomorrow. This will be the next in the docket to short just like Facebook. Equity Sense is a market commentary and trade idea company. Sign up for our free trial here.
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Multiple AuthorsTraders from Equity Sense will be writing on this blog on positions and other market-related things. Archives
May 2018
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