Flightlessbird:
He covered at about $6CDN if I am remembering correctly. If
you're still out there Ward, I bet you're breathing a huge sigh of
relief!!
Well...yes and no. I covered the rest of KRY just under $6
with a small profit, but thereafter I ended up shorting the one
oil exploration stock on the whole F-ing board that didn't drop
when the Iraqi situation cooled down. Oh well. Maybe CA will
be good to me. ;-)
Anyways, w.r.t. KRY, when a trade goes against me I have little
problem with closing out my position, be it at a small loss or
small gain. I set a $6 roof and KRY knifed its head through
that roof. Breathing a sigh of relief? I guess so. I never
really gave it a second thought, but I suppose you're right.
The thing is, I would never let myself hold a losing position
that long, i.e. holding a short position from $6 all the way to
$11.75, if it violated any rules I had set for myself. Perhaps,
it's more accurate to say I'm glad I learned about money management
(cutting losses) a long time ago. From my experience, no matter
who you encounter on these threads, the most formidable enemy a
trader will ever face is himself. Bar none.
For the record, I wasn't paying close enough attention to KRY
after it broke $6, so I never did go long. I do follow it,
but I've yet to find a comfortable place to go long or short it
again. I almost shorted it at $10, but I held back. Today I
almost shorted it at $11.75, but I held back. Truth is, this
stock bewilders me...and I have a tough time trading a stock
whose behaviour I don't understand. So, I remain on the sidelines
for now.
WN |
