good morning Freeus.
I just want everybody on this thread to know that they all owe me big-time!
After receiving a margin call at the end of the day yesterday for a nice sizable chunk of money and witnessing, in real-time, the dwindling of my assets, and having Schwab's account maintenance department indicate that I must satisfy my margin call by today, otherwise a portion of my position will be liquidated automatically. I first thought that they would be a small additional downturn in the market (because of margin calls) which would be followed by a rebound and a rally. To my disappointment, I kept watching as AOL was taking another free fall. I was advised that the Worden brothers indicated that AOL may fall as low as 109. I watched AOL fall and kept changing my sell order limits from 124, 122, 120, 119,118,117. Finally, as I was watching AOL drop to approximately 115, I finally succumbed and placed and open market sell order for a thousand shares (realizing, that this would be the sacrificial lamb which would result in the stock turning around the moment after the sell order is executed).
Sure enough, as the sell order executed at 116 and 1/8, a low began its comeback and is now over 121 in a matter of minutes following my sale.
All I can say is OOOOOOOOOUUUUUUUUUUUUCCCCCCCHHHHHHHHHH!!!!!!!
As I said before, all you guys on the thread owe me big-time for single-handedly turning around AOL.
Best of luck to all(especially the longs). Still sitting on 6000 shares.
David |
