Nice trade. But I can't let you off the hook that easily. Let's get back to the "idiots" comment you made earlier on December 23, 2004 when I was long. First off, I would say that you were the "idiot" (not to be rude) as you shorted midstream into the Christmas rally. Any "idiot" knows that the market heads up during Christmas week. Then, you held on as the stock rocketed up against you. You did say you covered 16,000 for $1.89 at $59.95. Nice trade. The fact is you were down $32,000 against you 4 days later (your were losing $2 points per share) It also says you shorted at $61.84 on December 23, 2004. Then, held for 8 long days. Consider my two trades. I went long while you were midstream short in all of that and grabbed $0.42, $0.92. I shorted $63.50's and covered for high 2's/+3's 2 days later. I am now long in the hole some $0.50 cents (maybe my idiot trade, but with considerably less shares). Before you call people "idiots", I would suggest being humble is a better approach. Call them idiots after the trade blows up significantly against them. For I was calling you idiot while I was long The fact is, I took $3.50+ points off ADBE swinging both ways to your $1.89 in 8 days. Not trying to piss on you, just making a point. Just being real. Happy New Year.
what's your exit target ST? we do notice how adbe has held up during this new year selling... nevertheless I still think that it will also be marked down 2-4 points unless markets strengthens later today, or tomorrow. b.t.w. have not traded the stock since the 90s but its just a gut feeling without reviewing O/I and the like. IcE
Sorry all, but I had to step out before close yesterday and didn't have time to post this. My ADBE long position got stopped out. -$0.60 first entry -$0.15 second add Will be watching it the next few days to enter in long again. Stay tuned.
Update: I'm still short. Will give my exit in real-time whenever that will be the case. IMHO it makes no sense if someone post trades here and doesn't provide updates in time.
Mat, please be careful as my sentiment indicators for ADBE just shifted slightly positive. Good Luck!
Good idea. We just wrote 65 Apr Calls and 55 Apr Puts (sold a strangle) on our account. premiums are good now! Cheers.