on the short side?
Yes, it means short.
Mark, the "box" is just a description/term.
The first box - I shorted 100 shares at $50 in May, then bought 100 shares in early June at $43. I started to trade it on 7/8; I sold at $141 and bot back at $133 half an hour later.
The second box - I shorted 100 shares at $134 3/4 two weeks ago.
If, during the day, I purchase 200 shares of Amzn and hold them, then the "boxes" are closed.
It has been very effective! For example, I shorted 200 shares yesterday at $95, If I did not "buy to cover" them, and instead bought 200 shares this morning at $83, then sell at $88, then buy/sell again and again.....
If Amzn "surges" again, it's not a bad idea to short a small number of shares and then trade against those short shares. The key is to create a "sweet box", which means to short at as high a price as possible. |
