March 31st - GEMS
Cramer mentioned a stock named GEMS Glenayre Technologies, Inc. on Friday night. Here is the data I found for its after hours price action:
Closing price $5.25
Up .06 cents during regular hours trading (1.16%)
Closed at $5.74 after hours
Percent Increase 9.33%
This one looks shortable......BUT....the segment of the show where this was mentioned was how this stock has some really good technicals right now and could be ready for a breakout. But even so, does this deserve to go up nearly 10% in one night? The stock has been slowly climbing from the $3 range since around September. Cramer also mentioned good fundamentals for the stock as well and a few bullish/positive reports. I would look to see if this hits $6 and if so could be a short point. I could see a lot of people taking profits around $6 since it would represent a climb of nearly 100% in a short amount of time. This one just feels a little risky to me, but hitting $6 would mean a gain of just over 14% and I don't see it holding that. If I did short, I would just look for a .10 cent drop to cover....no sense in holding short too long!
posted by CramerTracker @ 4/01/2006
2 comments
Comments on "March 31st - GEMS"
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Anonymous said ... (April 02, 2006 12:02 PM) :
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Anonymous said ... (April 03, 2006 2:54 PM) :
post a commenti would not short it for longer periods, because both technicals and fundamentals suggest it is going higher.
an 'intraday'-short could be an option, but the risk-reward is not so good.i think there are better shorts out there. for example, look at LIV at about 0.70. pump&dump by management, intrinsic value zero and technicals pointing down.
in general i think it is a good idea to short cramer's picks when it is running out of gas and when the picks are clearly overvalued. (for example a couple of weeks ago avnx gapped open at 3.5 and started dropping directly)
Nice theory, but I think you are full of it!