>> Pete, I wish I could sit down in front of some of you "good shorts" and discuss what is happenning at length. <<
Well, TA, I wish you could too! What kind of beer do you like?
>> The tape doesn't lie, the trend is your friend <<
Yup, when DDIM blasted through 30 like it wasn't there, I thought to myself "uh, oh."
So I'm sitting on this weird position of half the stock long, half short. No matter what it does, I neither make nor lose money until I adjust one half. My hope is that DDIM will establish some kind of trading range which I can short at the top of and go long of at the bottom. Or at least sell at the top of and buy back at the bottom of.
And sit on what I have still short and pretend it ain't there, so when DDIM comes back to earth I won't have missed it!
At the very least, I can watch with aplomb as DDIM rockets skyward without losing anything!
A sad prediction: if DDIM does hit upon a reliable trading range in the 30's or 40's, I might decide to cover that remaining short position while at the bottom of the new range and reshort at the top, thus taking an enormous risk with my short in between.... but I'll probably do that if the range seems as solid as the 20's one did for a while. What are the odds of DDIM cratering just as I take my short off the table? (Probably quite high, actually!! ;-) )
This ought to be interesting...
-- Pete |
