ALJ...COVERING OUR SHORT TODAY

[aj14]

We are covering our short today in ALJ. This was one of the names Jim mentioned positively the other night, and the lemmings pushed the price into la la land, so we let them have a few. Down here, it might be worth a look on the long side.

Another Cramer special...TY Jim.

[englishman26]

If Jim has forced it up, and you were shorting it, why would you recommend it as a long? (Jim's pumps only usually last a couple of days)

[aj14]

If Jim has forced it up, and you were shorting it, why would you recommend it as a long? (Jim's pumps only usually last a couple of days)

Behind all of his hubris, i think Jim basically has good mind, and his staff usually pick decent stocks. I stick with my previous comments that he is not much of a trader...too undisciplined, in spite of his rhetoric that he is not.
His problem is that he gets way too excited about his picks, get investors way too excited, and they push stocks to levels which are ridicuously overbot.
With oil trading to a level where it needed to correct, his timing in this stock was not good.
Oil has now corrected, the shares have corrected, and it might be something to do some work on. In the meantime, we took 10% out of the stock in a few days, and now have established a long position more in line with the fundamentals of the company.

[William Rennick]

Hey Englishman good point you make there. I was drinking something when I read it and did a "spit take". At the end of the game it's englishman 1 , aj 0. If this was a boxing match the brit knocked aj through the ropes. LOL

[aj14]

You guys are just too clever for me. I guess we bought the top today at $19.65.
We'll blow it out and wait for it to go up to $22 again before we buy. Is that the way it is done?

[englishman26]

I'm somewhat mistified as to the nature of my victory. I was innocently asking a question. (Well - ok I was making a bit of a point but I don't think I won anything!) :wink:

[William Rennick]

In my opinion you knocked that bloody Wanker out of the ring, keep that stiff upper lip old boy, have a jolly good weekend ,Tally ho. You have a good one there too aj, hey how about that call today.