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Even if one isn't bullish on Sears, why join the absurdly overcrowded short trade on SHLD, which has literally doubled since Reggie made his home movie? If you had to come up with a checklist of stocks NOT to short, it might go something like this:

1. Major owners aligned with shareholders
a. especially self-made billionaire financial whizzes
b. especially smart value investors with respectable long term records
2. Consistent profits
3. Consistently cash flow positive
4. Reducing debt
5. Improving operations
6. Buying back shares at strong clip
7. Strong brands
8. Undervalued assets
9. Well capitalized
10. Undervalued versus Peers (Target trades at .5 x sales and 14+x CFFO)
11. Improving metrics relative to peers

I could keep going but I think people get the point. If Sears can tweak ops to bridge half the gap of competitors, it probably doubles by Christmas from here. Now Green Mtn. Coffee that's an interesting one to look at, but it is crowded and it does have some of the aforementioned characteristics. Personally, I say now is a good time to go long SHLD.