Rumor has it that Mr. Wang had to quickly sell his house and belongings, including
his pc, to meet a margin call!
Tuff luck. Also, I hear he has recently filed papers to change his name to Mr.
Wong. :)
Hehe. Not quite.
Confusing says...
Day trader who jump in front steaming locomotive once too often may find himself
splattered all over tracks.
First, I didn't short SCF again, which is fortunate for me. Since April, I shorted from 29 to 23 1/2, from 26 to 22 1/2, from 26 to 22 1/2, from 23 to 22 1/4, from 27 1/2 to 26 1/2, etc. Every time for a profit.
Second, I am not a "day trader". I usually hold a position for anywhere from a couple of hours to a couple of weeks. I don't scalp for 1/8 or 1/4. The "ideal" trade for me is one where I make 20% or more within three days.
Third, steaming locomotives run out of fuel sooner or later. And often that steaming locomotive is made of manure.
So why didn't I short SCF again? Because I determined that shorting low volume stocks like SCF may be hazardous for my financial health because of how relative easy it can be to orchestrate short squeezes, artificially pump up the stock price, etc. I am going to stay away from shorting low volume stocks like SCF unless there is an extremely compelling case. |
