Man, you got that right.
Last year, I was short Conner. Well, I was doing allright. 4 points in the +, then WHAM, out of nowhere, the stock shot up 4 points on the Seagate buyout. I didn't catch the news on time and got killed the next day. Lesson learned.
Sure, there are a lot of good shorts out there. But in the high tech arena, watch out for buyouts (or even rumors). They will kill you.
Good thread though. Anyone has ideas on when to cover after a profit. Lets say after a 200% run, you short a stock. What's a good place to cover, 10%, 20%, ?? My problem has been that I wait too long to cover.
Best wishes. |
