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Diary of A Day Trader© May 10, 2011 "DUNR Is En Fuego and ZAGG Should Take Flight Tomorrow"

|Includes: ZAGG Inc (ZAGG)

One of the most gratifying things about trading stocks is successfully predicting the future. ZAGG reported earning after hours and the stock is on the move.

From my May 2 story:

ZAGG Incorporated (ZAGG)

ZAGG makes and sells protective covers for computers and handheld electronic devices, including Apple (AAPL) products. Lately the trajectory of ZAGG’s share price has sent shorts running for cover as well — and there are a heck of a lot of them. Almost 50% of ZAGG’s relatively small 16.4 million share float has been sold short.

My prediction: If I was short ZAGG I would run for cover as quickly as possible. Only an earnings bust or a market meltdown could stop this potential juggernaut from taking flight. If you have a high tolerance for risk, I’d suggest betting long.