Anaxagoras:
Thanks for the nod - sorry for delay in response - unless posted to me I often miss side remarks to me as I avoid following closely the thread of any stock that I'm trading - helps to take the emotion out and keeps me following my intended trade.
Today news that Neilson will be issuing ratings of web sites, some info out on web shopping since Thanksgiving, and a number of the nut-com stocks are up, but not EGGS. Hmmm.
although the past few days my efforts to get a borrow at Schwab have been for naught Hence, trading the box strategy - if you wait to see the top put in and the slide start, you often can't get the shares to short - either the downtick rule gets you or (more likely) the smart money is already there and your broker can't borrow the shares to short. (Good reason to have different brokerage accounts.) I don't do options, but buying a hedged put might avoid some of this problem.
Yes, you may give up some ultimate total profit. Yes, you have to be willing to carry a loss if the stock continues up. But if the stock is in a trading range or will ultimately tank you will be able to profit vs. wishing you could get into the trade
See from later post that you've gone short. Hopefully, you've planned your trade - now you have to trade your plan. IMHO, your entry today could be good for a couple of points today or over next few days, but it could be the start of a core short position for an ultimate drop below 10. (For the trip below 10, my core was entered in mid 20s, but have a trading position at 22+ as well.) Good luck.
Peace and Justice --- Patrick |
