Short Activity in PNV, page-5715

I know I am on a hiding to nothing here, but I've had a few pinot noirs so here goes. All this banging on about shorters. It's futile except to say that when shorter pile onto a stock they think it is vulnerable to a price correction. Frankly, often they are right. There are many reasons. Addition into a S&P index is one when the stock price is running on fumes. At the end of the day everything is hypo in the stock market. It's been running on monetary cocaine for many years now.

I say this many times on HC. Buy, hold or sell. That's it. Those are your three choices at any time. I sold some PNV a week or so ago. I posted that here. Hold if you want to. Hold a core like I do and trade a bit here and there, so that, based on after tax, you come out ahead, building a position on a conviction stock.

I've got a thesis (and like everyone I am often wrong) that there will be one more spurt up. But, in any case, I have already taken some profit when we topped recently because, as we know, growth always tanks before value.
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