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Realtraders,
Due to some technical difficulties, I am forwarding this message from Don
Green to you.
John Boggio
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Well, I was overwhelmed with the amount of positive comments to my moment of
anger. Thanks for the kind remarks. As for Intel, Why did I do it?
I thought my comments of Short Covering before earnings report was pretty
clear... I thought this site was a traders site. But I realize there are a
lot of new traders or students here. SO I will try to be more specific.
Money in the market is made on doubt... Since traders short a stock because
they think a stock will go down, especially when they have lesser
earnings... There was a lot of shorting of Intel the main player in Hi
tech... which is the main industry driving this bull. SO.. as we got very
close to the earnings report (after the close)
I KNEW ( because I am a short trader myself) the traders would cover just
in case the stock did better than expected... So when you get a lot of
covering the stock goes up... Does this always work... No nothing always
works.. But I felt confident enough to put a large bet on the table..
Jackpot.
Do I always win no! but I am pretty good at what I do...
Why tell all, so you can learn from my gains and losses.. So please no
flack..! This not an ego thing. it is sharing my experience with outs.. I
have nothing to gain.. I am not selling anything...
Any questions?
Regards
Don Green
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