Shorting Losers

For those that shorted Martha Stewart Living Omnimedia Inc. (MSO) before the decision in the Martha Stewart case, they made a cool 22% one day gain on Friday. Though shorting a company based on a court case with an unknown verdict is gambling, the odds of winning with a short in this case was high. High enought that if I had enough dollar signs in my eyes, I would have realized this before the case was completed and bought in.

Which leads me to wonder, should I be paying more attention to short opportunies like this? Is SCO (SCOX) the next easy money? Though I have a hard time putting my chips on the table, it's a better bet then the casino.