Seeking Alpha

Greg Sommer

View as an RSS Feed
View Greg Sommer's Comments BY TICKER:
Latest  |  Highest rated
  • The Untold Secret That Questcor Has Been Covering Up [View article]
    Shorts hurting today. Glad i kept my position...until I sold it this AM. Ha
    Apr 7 05:46 PM | 1 Like Like |Link to Comment
  • The Untold Secret That Questcor Has Been Covering Up [View article]
    Not the first time Citron has gone after Questor

    From IBD:

    Questcor Pharmaceuticals (QCOR) fell 8% and breached its 50-day moving average. The drugmaker had already slumped 9% Thursday after short seller Citron Research said that its bread-and-butter Acthar was at risk of being taken off the market by the Food & Drug Administration. The stock has now erased all of an 18% gain past a 67.91 handle buy point and then some. In July 2011, Citron ripped Questcor in a report, but Questcor was up 65% five months later.
    Feb 28 02:04 PM | 3 Likes Like |Link to Comment
  • Twitter Share Unlock Could Cause A 20% Correction [View article]
    This sounds similar to my comment on your other TWTR article.
    Feb 19 12:30 PM | Likes Like |Link to Comment
  • Buy Twitter Now While It's Trading At A Bargain [View article]
    At least you admit buying OTM Calls was a poor strategy for earnings and turned out disastrous. The trade was to short stock into earnings and sell puts at a level you were willing to buy shares. I covered my short on earnings and now you let the naked puts ride. I would buy the stock at $35 to $40. 2x1 puts to share ratio. No one really knows what Twitter will be which is why there are so many opinions and so much volatility in the stock but the game is to control risk if you play names like this. Think about how many stocks trade at 50x EV/Sales and the outcome that usually happens with those stocks. They all correct eventually until the fundamentals of the business catch up if they ever do. My thought is insiders are going to start selling (480 million shares through June) which is where you buy the weakness for the long term or short into it if you are aggressive.
    Feb 14 03:26 PM | 1 Like Like |Link to Comment
  • Ambarella Looks Like A Short [View article]
    Unfortunately MOMO stocks are not valued on DCF. It's the story and growth trajectory that keep it going. Ten years from now it might be a $15 stock but that's after the "story" and growth isn't there anymore. I owned this stock from the mid-teens and sold about 80% of my holding above $33. A pullback is expected after such a large run but benefit of the doubt is given to the company until earnings or (real) news says otherwise. Valuation isn't that crazy either compared to other MOMO stocks.
    Feb 5 01:34 PM | 2 Likes Like |Link to Comment
  • Tesla Motors Presents A Terrific Shorting Opportunity [View article]
    I would rather short SCTY than TSLA. SCTY is even more overvalued than TSLA. The short squeezes in these stocks are really what's driving them up. Elon Musk has gotta have some hedge fund friends because he is making a killing on both these stocks. Also a little sketch both stocks which should be independent of one another have the same stocks charts. haha
    Aug 6 12:41 PM | Likes Like |Link to Comment
  • S&P 500: Do Not Buy This Dip [View article]
    One would be foolish to buy equities at these levels. Be smart and buy on a considerable pullback or just send your money to wall street.
    May 28 06:20 PM | 7 Likes Like |Link to Comment
  • Shame On You, Apple [View article]
    I think you just advocated for smaller government. Therefore, Apple not paying taxes or any corporations for that matter is addressing the fact government wastes capital and the Federal budget should shrink until it is sustainable.
    May 1 07:33 PM | Likes Like |Link to Comment
  • Shame On You, Apple [View article]
    Apple is doing the right thing for shareholders and as a shareholder I am happy they are returning capital instead of earning next to nothing on the majority of their assets in a low interest rate environment.

    The real problem (as the Fed stated today) is government policy. Corporations have an obligation to put shareholders first, even before paying taxes to the U.S. government, and Apple is maximizing value for the owners of the company. When government learns to operate efficiently and produce real results then corporations won't be caught in these situations. There is a huge amount of cash sitting offshore, tax holiday would bring it back and it could be invested domestically. Somehow this concept is too complex for pigs in Washington.
    May 1 05:08 PM | 3 Likes Like |Link to Comment
  • Facebook Remains A Short For 2 Prime Reasons [View article]
    Eventually they need to show bottom line growth. Right now their growth is slowing, saturation in western countries. They are trying to monetize everything they can to boost sales and leverage existing users. I think they can do well within the next year or two but long term not a buy in my mind. The valuation is obsurd as well. P/E over 100x in any company has to be accompanied with a higher growth rate. It's PEG is over 9. Apple's PEG is below 1. What's a better buy?
    Jan 31 03:08 PM | Likes Like |Link to Comment
  • The Facts Dispute The Claim That The Short-Term Volatility ETF Drifts Lower And Spikes Higher [View article]
    VXX is a horrible trading vehicle. I made the mistake of buying VXX recently when the CBOE - VIX index was at 5 year lows. The only trade on this ETF is to sell out of the money calls or go short. As long as there is contango in the VIX this ETN will always lose value.
    Jan 30 11:51 AM | Likes Like |Link to Comment
  • Einhorn And Buffett Are Right: General Motors Is A Great Buy [View article]
    The GM bailout was a joke. The Treasury is supposed to take a $40 billion (ballpark) loss on the bailout not to mention the ridiculous accounting gimmicks. Not to mention UAW memebers were getting bonuses (avg of $7k) at the tax payers expense. The bank bailout actually produced profits for taxpayers (although i think it went straight to paying interest to the Chinese). I would never buy this stock based on what it represents (chrony capitalism) not to mention they make crappy cars. Any company/industry run by unions is the worst place to put your money and those sectors almost always underperform.
    Dec 21 07:14 PM | Likes Like |Link to Comment
  • Prepare To Short Gold [View article]
    Gold might not be correlated to CPI inflation but it is correlated to central bank balance sheets which is what most people buy gold on. Really more about expectations of future inflation, which there is no guarantee will come.
    Dec 7 06:31 PM | Likes Like |Link to Comment
  • The Keynesian Depression [View article]
    I was never advocating going back on the gold standard. We can't at this point. Gold would be something like $20,000 an ounce if we had to back our money again. Central banking and fiat money has never succeeded over the long term when inflationary policies were undertaken. The point of being at least partially backed by gold is the fact governments can't go out and spend as much money as they want.

    evan37 is right, the byzantine empire lasted almost a millennia on the gold standard. It was wars (costs associated with wars) and politcal fragmentation that brought down the empire. They grew there money supply, which was more difficult, at around the rate of GDP growth which brought economic stability over the long term. I agree you have to be able to grow the money supply but not exponentially, which is what's happening now.

    I'm not sure how people can advocate for the policies that are causing our standard of living to go down and screwing future generations.
    Dec 5 08:41 PM | 1 Like Like |Link to Comment
  • The Keynesian Depression [View article]
    Didn't something happen in Germany post world war with printing money? Eventually when your currency can't buy anything then you can't inflate your way out of a crisis. No empire in history with fiat money and wreckless money printing has survived. I don't think the U.S. will be an exception. Wealth destruction through the financial crisis and now it's being continued through inflationary policies and ballooning debt obligations.
    Dec 4 08:28 PM | 8 Likes Like |Link to Comment
COMMENTS STATS
47 Comments
53 Likes