I wish you well, also, Math. I am afraid you might hit your stop on SEBL today.
Thanks. I, too, think my stop may get hit. I'm not afraid of it, though, since my stop would lock in a reasonable profit. Remember, 13 to 15 is a 15% move and I'm only willing to give back half of it. A 7% move in less than a week isn't too shabby! Still, I think SEBL could go up near 20 over the next several days/weeks. I opened it as an intermediate-term trade and I don't want to get impatient.
I guess my main question, knowing the effort and knowledge you put into it, why you don't go short rather than long? You should be able pick out stocks to short as easily as you do stocks to buy.
I do. Recall that a couple of weeks ago I was short the QQQ at about 38. Covered at 31 just after WTC. (I felt a bit funny rooting for the market to drop under those circumstances.) Check out the CC thread for the real-time diary. My analysis this time pointed to a short to intermediate term bounce in SEBL with a target of 15 and I got one more quickly than I expected. Can't complain, even if it falls short of my expectations.
Look at it this way. You know we are in a Bear Market.
Well, I know we have been in a bear market. Still, one thing I have learned over the past two years is to be flexible. When things look good for a bounce in a bear market, I go with it. Still, the long-term trend is a major factor in any trading decision.
M |
