“Go, go, go. Go shortie, it’s your birthday.” – 50 Cent
50 Cent – In Da Club
Our largest short position, Apollo Group APOL, is down another 18% this morning. are it reported a horrendous quarter last night and said that business is not going to improve any time soon. Actually, those are my words, because the Apollo Group’s quarterly report is full of misdirection and glowing commentary like:
The Company continues initiatives to reengineer business processes and refine its delivery structure, while maintaining a commitment to enhance the student educational experience and outcomes.
That’s how the company introduces the business outlook section of their quarterly report which then goes on to explain the huge charges and write downs and layoffs and campus closings that the company is being forced to do in the name of trying to save their so-called business. I am not reducing the size of this short at all today and in fact, I’ll probably try to buy some puts in the name as we have in the past to big profits. I’ll sit tight with the stock now less than 1/2 the price it was when we shorted it near its all-time high. Go shortie!
Lindsay LNN, our main water investment, is down today about 5% after a quarterly report that was a bit soft on the bottomline, but full of growth and promise on the topline. No change for me there either as we’ve got some great profits in this one and I think it can go much higher over the next few years still.
My bankruptcy trade is down a penny this morning, and I’m not doing anything else with it for now. I might add a little more to it below 5 cents a share, but this is a small, short-term trade/gamble and I’m not going to put much more capital in it no matter.