1. It was one of those 'fall off a cliff' openings I was afraid would bounce back at any time (I actually covered on the first big bounce @ 5.95).
2. I was home this morning to watch it- usually a bad thing because my emotions and psychological quirks take over (I'm sure none of you experience this;)
Next came SKYT. I wanted to cover this one today for one main reason: It wasn't up enough imo to short in the first place. I was showing a profit, so when it finally fell a little (low volume stock that moves like once an hour), I covered @ 3.20- you can actually see my 150 shares on any chart.
Still waiting on MAXY to really lose some ground, and PALM to forget it was hyped so much.
Steadily gaining ground on Master Sykes,
Evan
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4 comments:
haha whatever you do, disregard tim sykes and do not short your covester account.
Nice trades! Watching trades live like that is very tough, good luck continuing to climb the Covester Rankings!
Best Regards,
Blain (Covestor Team)
Very cool. I first had some doubts about the long term short hold strategy you are implementing, but you can't argue with the results. I still think at some point there may be a weird event like a buy out or the next I-Phone product that may one of these stocks sky rocket semi-permanently but with small positions, the risk is worth it so far. Take down Sykes!
Thanks so much for the comments guys!
Aynul- Tim has given me the foundation for my strategy, and I'm terrible at going long!
Blain- Still shocked somebody from Covestor is commenting on my blog!
Charlie- I have to agree with you on PALM, it was scaring me until it started downtrending. Even if the Pre is a hit, the runup from $1 to $8 was a bit too quick imo.
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