if you really believe 11 is the target, why not just let it drop as far as it will go and follow it with stop orders until one gets executed?
Good thought, Math. That did not occur to me. As I said, I am new at this.
But, that "11" figure was not specified for time. I think it will get there in the next month, in the meantime, I want to ride up and down as the market runs along.
How high are you willing to hold Brocade?
That is the Beauty of what I am doing. I am not worried on the upside. I know that anything can happen, but I just don't see any strong upside right now on the stocks I am shorting, and my plan is based on that assumption. If that assumption is wrong, I will lose money. But, this is a risky business. I am well aware of the risk.
I used to own a big chunk of BRCD, at a hell of a higher price than I am trading it for now. If it hit 20, I would take a close look, but I know it, and the rest of the techs, are going to stay in the toilet in the near future.
I had a cover order in on Brocade, and when I got back from getting a haircut, ( For 4.50!, some things are cheap here), it had filled at 4.11. So I am in and out with a 34 cent profit on 4k shares. |
