|
PureBytes Links
Trading Reference Links
|
I thought I would give an update on my YHOO short. Several days ago I
went short at 52 in my smaller account. It went as low as 48 intraday, a
day or two after I entered my position. Well what was I thinking when I
didn't cover, yipes. Well it hung around 51 to 52 for a few days but
then on Monday it went to 54. Well I figured I had better resolve this
so it wouldn't get out of hand. So I went long at 54 1/16 in my larger
account. So I am long in one account and short in another account.
(Ooh). With an approximate $100+ loss locked in if I close both
position. The goal is to get out of this self inflicted mess with out
losing any money. I know some don't like that I take risks like this,
but boy is it fun. I enjoy a good challenge and having to think on my
feet now and then. Do I have a plan to get out of this? Nope. Am I
starting to get a few ideas how to handle this? Maybe. I do know one
thing, I 'HATE' to lose money.
I have had a couple of time to clean it up with a trade or two, but the
wily snake has been a bit hard to grab by the tail. Phone interruptions
don't help either.
Also the market is a bit whack. When the DJIA moves up nearly 200 pts on
Monday and the NASDAQ composite up nearly 30 pts on Monday with about a
2 to 1 up/down volume ratio it is a bit suspect. Today was confirmation
of how weak the NASDAQ move was on Monday. I am starting to feel that we
are having a narrow Blue Chip advance (oh duh).
It is interesting to note that YHOO has been following the NASDAQ
composite from time to time, over the last few days, that I have been
watching. But today all eyes (YHOO eyes) where on the DJIA. When the
DJIA went negative at the end of day YHOO dropped fast, but as soon as
the DJIA moved in positive territory it gained back it's extra loses and
climbed nearly a point from the low.
Today it closed at 53.
|