| StreetInsider.com - Insiders' Edge |  | | Notorious Short-Seller To Close Short Fund | ![]() | Notorious short-seller, Bill Fleckenstein, announced he is closing his short fund that he established in 1996. He has been one of the most-outspoken short sellers and could him closing his Fleckenstein Capital be another sign of a potential bottom?
Fleckenstein said his original reason for starting the fund in the late 1990s was because of past flawed policies of Federal Reserve Chairman Alan Greenspan. Fleck's comments appeared on the calculated risk blog where he said, "I felt that Greenspan was fomenting an environment that would lead to disaster, as consultants, financial advisors, and the public at large were losing all respect for risk."
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| Insider Trade of the Day - Cree Inc. (CREE) Cree Inc. (Nasdaq: CREE) Chairman/CEO/Pres, Charles M. Swoboda, bought 10,000 shares on 12/05 at $13.06, bringing his stake to 280,944 shares.
Shares of Cree are up 13% today to $14.85, but just above recent 52-week low levels of $12.57. The 52-week high is $35.50.
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| | Upgrade To Watch - Smithfield Foods (SFD) Deutsche Bank upgrades Smithfield Foods (NYSE: SFD) to Buy, but revises price target to $14.
Deutsche analyst says, "While the risk of lower than expected pork demand and, thus lower hog prices, still exists, we believe the risk - reward scenario is attractive...As we approach 2009, the hog supply picture is becoming clearer. A likely lower ... MORE More Upgrades: http://www.streetinsider.com/Upgrades FREE RSS: http://www.streetinsider.com/freefeed.php?cid=9 |  | | 
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