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I sold my two overnight positions early in the session and went to 100% cash. $VSAT I took a flat on after being up nicely at Tuesday's ...
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Although I made a decent gain on this trade; I missed out on a lot of upside!
Nice job on SCTY. SCTY is a great swing short with the upcoming lockup expiration on Tuesday. I've been short since 50, plus have 40 and 37.5 puts. I'll be out on Tuesday.
ReplyDeleteDo you want hear how I made 204% be going long on SCTY? Shorting is another way that our society promotes being a negative person. If you don't like a company, then don't invest in it. Like my mother use to say, if you don't have anything nice to say, then say nothing at all. That sure is an old fashion saying that I'm sure most of the new generation has never even heard.
ReplyDeleteYea Steve...I would like to hear how you made 204% on $SCTY...please share!
DeleteSteve,
DeleteI'm curious how shorting is a way that promotes "being a negative person." Do you realize that shorts are an important part of the market? They help root out fraud and scams in the market. It was shorts that exposed the Chinese RTO frauds in 2011-2012. It was shorts that exposed Enron. It's the shorts that expose many of the pump & dump scams that are rampant on the OTCBB.
Shorts provide a healthy and needed dose of skepticism to the market, especially when the market, or a particular stock, becomes irrationally exuberant.
I totally agree with you James. What's worse is that the stories about shorts getting squeezed before they're eventually right sometimes hardly ever get publicized! Only the ones when the companies collapse etc and then they're made out to look bad as if shorting can bring a company down!
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