Van,
You shorted at 26 1/2? I can read that as if you were long, but you sold short, right?
It's not unreasonable to expect a correction after the runup,so you're probably right, but did you look at the chart? Chart is bullish? Reverse head and shoulders? Sometimes they don't correct.
I just remembered this. I own Pixar. The stock made a huge run on news of Toy Story II going to be a movie instead of a tv video, and at the same time unexpectedly good earnings from extended income from Toy Story. And Pixar kept going. So I bought some puts, convinced it would correct. I'm going to lose most of the money I spent on my puts -- in two days. It kept going up and then stalled in a tight trading range, then it went up more and stalled in another tight trading range. Now I suppose it will go up again, even though they announced they are going to have no income till mid 1999. Geez, I thought I'd make money on my puts. At least I didn't sell my stock. It's another Steve Jobs company.
I hope Apple goes down for you and up for me. Stocks tend to go up and down. :-)
Linda |
