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Ilene is an editor at Phil's Stock World, Market Shadows and other financial publications. Her educational background is in biology, pathology and law. After working in biochemistry and pathology during her graduate years, she attended Law School at Loyola. She practiced law in a number of... More
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  • DARK HORSE HEDGE – Goodbye Yellow Brick Road, JOE 0 comments
    Oct 20, 2010 3:29 PM | about stocks: JOE
    DARK HORSE HEDGE – Goodbye Yellow Brick Road, JOE

    By Scott Brown at Sabrient, and Ilene at Phil’s Stock World

    Margaret Hamilton, as The Wicked Witch of the West, hides behind a tree from Dorothy, played by Judy Garland (1922 - 1969), and the scarecrow as they make their way down the yellow brick road in a scene from

    You know you can’t hold me forever
    I didn’t sign up with you
    I’m not a present for your friends to open
    This boy’s too young to be singing the blues

    Maybe you’ll get a replacement
    There’s plenty like me to be found
    Mongrels who ain’t got a penny
    Sniffing for tidbits like you on the ground

    So Goodbye yellow brick road – Elton John

    We entered a virtual short position in JOE in the virtual portfolio Dark Horse Hedge on July 1, 2010 at $23.74 .  There is currently an ongoing battle between star fund manager Bruce Berkowitz (long) and David Einhorn (short) . 

    We don’t know when or where that argument will land and with a 13%+ profit we prefer to go back to the farm and look for a replacement.  No doubt there are plenty like JOE to be found with the market at these levels.

    Buy to Cover, JOE at the market, Wednesday October 20, 2010.


    Disclosure: none
    Stocks: JOE
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