May 16 - SMSI
Cramer's first picks was SMSI SMITH MICRO SOFTWARE
Closing Price: $11.58
After Hours High: $12.85
Percent Increase at High: 11%
Price Level Off Point: $12.42
Percent Increase at Level Off Point: 7.3%
Trades on NASDAQ
Sector: Tech
Short %: 7.3%
Days to cover: 2.5
The tech sector is generally very good for shorting, averaging a 4.6% drop from peaks the next day, based on the data I have. EMKR was at a similar price and fell from $11.44 to $10.72 with the peak at 8:13am. BWNG also went from $11.35 to $10.72 with its peak at 10:03am. With a bit of short interest here already I could see a little jump near and at the 9:30 open before a fall. This is coming off its 52-week high from last Monday the 8th, but not surprising with the way the market has been going for the last week. I could see this coming back down to the low $12 range (but not necessarily staying there).
posted by CramerTracker @ 5/16/2006
2 comments
Comments on "May 16 - SMSI"
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Anonymous said ... (May 17, 2006 4:12 PM) :
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CramerTracker said ... (May 17, 2006 5:02 PM) :
post a commentThis is a good site.
I just recently started shorting Cramer's picks. I shorted SMSI at $12.45 (I could have gotten $12.60 but I got itchy on the trigger finger.) I covered this morning at $12.15 for an easy $300.
Hope this keeps working. Makes for a good part-time job. :)
Thanks for the comment!
Congrats on the "short" success. I of course hope this keeps working as well. I'm pretty sure as long as Cramer keeps picking people will keep paying up too much! Unless they move him to after the after hours market closes, then the ball game would change a bit but I'm sure the same opportunities would present themselves.