COVER SHORT T @ $28.43

Covering T short @ $28.43

Realized gain of $1.62 (5.39%)

Part of being a successful short seller is knowing when to take profits and when to let it ride. I've had more success with quickly trading my short book and slowly trading my long book.

Fundamentals drive long-term stock prices, but a lot of factors go into short-term price movements. In this case, I got the call right and will take me profits and find another short. I don't know enough about this stock to stay short - it's probably not going to zero. It's not a fraud. It's just over-levered. That might be ok in a world of low rates forever.