>>Let me get this out in the open. I am short 5000 shares and own 40 put contracts that expire at various times. Losses today, excluding the puts, $25K. You can imagine total loss since average short cost is around $42. I intend to see this through. I intend to turn a profit. I do not intend to ever short a stock again;-)<<
Glenn, I thought your shorts were in a box position. Sorry for all of our losses. But It is ok that we spent first and make money later. Well, I have the same intention as yours to turn a profit. It is just much more difficult than what we all thought. well, when we win, we celebrate together here, big. Am I being too optimistic?
**OT, Glenn, you are in the jewelry business. Would you like to buy some jewelry such as diamond from Indonesian people whose currency devalued 400%? I heard from my friends that there were so many very good bargain because US$ is so strong. However, you have to fly to Singapore to buy them. I may pick some when I go back to Indonesia to visit my folks next time. My risk tolerance is getting bigger after seing what happened in Indonesia and loosing money in AMZN, but still in control--always remember, capital preservation is the priority.
Cheers to everyone,
Felicia
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