Ebay: Long, Short, Or Stay Away Going Into The Earnings Tonight?
by Jay Somaney
Just a bit if housekeeping to get out of the way before I delve into the meat and potatoes of this article. By now, most of you must have read about my blown call on Infosys (INFY) last week. Our proprietary model was advocating going dark (short) on the shares before their earnings report. However, in the two days prior to the report, shares rallied about INR 250 or so in India and here Stateside on almost 2x the average 10-day volume, which led my team and I to wrongly conclude that sentiment had changed or information was out in the Indian market that favored going long despite what our model was telling us. Bad call which hit us hard in the pocketbook. Having said that, it's easy to pontificate after the earnings on how right one's call was and how vindicated one might feel after the results are out, however, you will never see that with me. Right or wrong, I will always tell you what I am doing with a particular investment/trade prior to the call and in addition, if I am advocating a short or a long, why would I not have my own money where my mouth is? Having said that, I am moving on to my next recommendation and I hope you will move on with me too. read more »
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