Choppy Conditions for the Short Side

This is a great day to look at charts, review positions and access fundamentals on companies in which you have an interest in an investment, either long or short. But trading today is a different story, in my view. This chop is like being out to sea during a storm. Not a hurricane but a storm strong enough to rough you up a bit, make you sick to the stomach, but not nearly enough to finish you off. It's a great day to make a sandwich, a big sandwich, like Dagwood Bumstead or Thornton Melon would make.

The high-short, high-momentum names have been crushing shorts. First Solar (FSLR), Restoration Hardware (RH) and Tesla (TSLA), which have short interests of 28%, 40% and 37% respectively, are up 62%, 22.5% and 95.6% for the quarter. This has been a dangerous market to be on the wrong side of these high-short-interest names. The recent short squeezes have likely put many shorts on the bench. Take a minute to read Bret Jensen's article from this morning on what I view as a very good approach to taking a short in names like these....179 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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