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aray - Shorts kicking your ass? Long idea
Well, I'm glad I have hedged my shorts with longs. : - )
This is truly a depressing market for a bear.
A physician friend of mine (who was buying ISRG before it blew up and 'made Cramer'), has been prodding me about ARAY for some time.
Today I ran into him for the first time in a while, and he nearly put a gun to my head about this. He said that ARAY's cyberknife technology is taking off in popularity right now. He thinks the worst that could happen is that they will get bought out. Their technology is the real deal.
I'm placing an order for this stock tomorrow. Just thought I'd share.
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Thanks for sharing. I'm curious what MonkeyPilot thinks of this one.
More broadly, about your point that it's been a tough market to be a bear. As I mentioned on the blog recently, market neutral seems to be the way to go during secular bear markets. I've been thinking about how to do this in an IRA with options, to get around the restrictions on margin and shorting.
In the meantime, I've been waiting to close out some put positions before committing much more cash. I'm still getting a feel for the pros and cons of buying puts in lieu of shorting versus shorting. On the con side, you've got the ticking clock of the expiration date, spreads, and the impact of volatility to worry about. The ticking clock means you can't wait out the market if its goes against you too long, so if the current rally continues for another month or so, I'll probably end up closing most of my Dec expiration puts in the red (planning to close them out by the early November either way before most of the time decay kicks in).
On the plus side, having a capped downside makes it easier to ride out short squeezes like the one it looks like we had in BBX this week ( http://shortscreen.com... ).
I have to say, I'm out of my element on this one. Surgical aids and their industry are definitely outside of my knowledge base. I do know that medical devices are regulated somewhat more leniently than drugs by the FDA, and once a product begins to gain acceptance it can really take off. Might be a good speculative play for me, but I wouldn't count on it for a steady return.
Thanks for weighing in, MonkeyPilot.