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KenL
Registered: Jan 2006
Posts: 51 |
05-14-08 06:00 AM
Quote from rogersjeff7:
i had no trades today, i tried borrowing shares to short of CNEX and BPTH, but had no luck, not that either of them are very liquid anyway
Short only strategy sometimes an exercise in futility. My broker TDAmeritrade won't even allow short sells on otcbb stocks and most brokerages have a similar policy.
More than once a listed stock did not have share available to short and all I could do was sit and watch in frustration as it fell.
You will soon want to learn the long game after running into a few more similar to your two today. Why only rely on a one trick pony?
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rogersjeff7
Registered: Jan 2008
Posts: 120 |
05-14-08 02:52 PM
Quote from KenL:
Short only strategy sometimes an exercise in futility. My broker TDAmeritrade won't even allow short sells on otcbb stocks and most brokerages have a similar policy.
More than once a listed stock did not have share available to short and all I could do was sit and watch in frustration as it fell.
You will soon want to learn the long game after running into a few more similar to your two today. Why only rely on a one trick pony?
just shorted 1,000 CNEX at $6.15 and covered at $5 in less than 10 minutes, now its at $4.25...wow! sorry for not posting real-time but it happened too quick, my priority was on my trade.
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rogersjeff7
Registered: Jan 2008
Posts: 120 |
05-14-08 04:07 PM
Quote from rogersjeff7:
just shorted 1,000 CNEX at $6.15 and covered at $5 in less than 10 minutes, now its at $4.25...wow! sorry for not posting real-time but it happened too quick, my priority was on my trade.
forgot to mention, my account is now $30,075, very niiiiiiiiice
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VictorS
Registered: Jun 2002
Posts: 399 |
05-14-08 04:23 PM
Quote from rogersjeff7:
just shorted 1,000 CNEX
what was the trigger for you to enter the short. do you just automatically short once you find these parabolic stocks?
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rogersjeff7
Registered: Jan 2008
Posts: 120 |
05-14-08 04:31 PM
Quote from VictorS:
what was the trigger for you to enter the short. do you just automatically short once you find these parabolic stocks?
i base everything off tim's blog and he did this post pre-market today:
http://timothysykes.com/2008/05/14/...wable-to-short/
so when the promoters stop pumping out press releases as much, that usually signals a fade is in order and then the key is whether or not stop losses will be taken out or not. today's drop was much greater than i expected, but i'm happy with my gains.
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