This is overkill now.
After recommending trades on Lumber Liquidator calls yesterday, the underlying stock too a dive on a Senate Democrat request for a probe.
Not only is the company already under investigation, a lot of recent activity stems from short sellers. In fact, it was a 25-year-old short seller China that sparked the bear raid. Then, 60 Minutes featured short seller, Whitney Tilson and two attorneys backed by short sellers.
Now a Senator wants to look into it more.
But as I mentioned yesterday, if there was a substantial problem, we would see medical reports of the victims, word from regulators, and something other than the word of short sellers.
While our LL position has started out poorly, we are holding.
After closing many, many wins, we do have positions that are down. But we see no reason to exit any yet. We are looking for another wildly profitable year of trades.
Ian L. Cooper
Forgotten Profits