STOP ME BEFORE I TRADE AGAIN!!!!
OK, here's what I'm doing. I'm covering a half of my erstwhile longterm short position, and buying DDIM stock.
If it keeps rocketing up, I won't lose any more on half of my current short position; and I'll make money on the long stock. When DDIM stops this move, I'll sell the long stock, and think about reshorting at the much higher price (high 30's?).
If, as is most likely, my going long instantly stops the upward move, I'll probably sell quickly, but still have an eye for going long with part of the funds.
My evil plan is to make enough money "going with the tape" to make up for how much I've lost on the short side, while still keeping some short because I'm most comfortable in that direction and would hate to miss a sudden downdraft.
Hopefully I'll be one of these nimble buyers and sellers with half my DDIM money, while the other half stays stubbornly short. I've never tried trading in and out quickly, but my margin account is for experimenting, after all, so I might as well try. So half of the DDIM money stays short, possibly for years, and the other half tries to ride this pony!
At least this ought to be more fun for me than gnashing my teeth about the tape....
Wish me luck!
-- Pete |
