Thursday, April 29, 2010
IRON MAN Backlash Begins?
We all know how short I am on IRON MAN 2 at $400+. I mean, I cannot get short enough on this stock. I think it will do fine at the box office but asking $400 million in 24 days is a Herculean task by any stretch of the imagination (or stretch of Scarlett Johansson's hot black catsuit). And with ROBIN (of the) HOOD trailers looking more and more like ye Olde English GLADIATOR, IM Deuce's box office prospects may be somewhat impacted. I wish IRON MAN 2 well and desperately want to be entertained next weekend, but this film's $100 overvalued.
The market is already starting to turn against it, however slightly. For the first time since I have started shorting it, IRON MAN 2 has gone below my average price paid. Considering the movie is still a week away from release, this is a great sign that the market is coming to grips with how overvalued it is.
Get short, IM2. Get as short as you possibly can.
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