nont know what to do

Discussion in 'Strategy Development' started by newtothis, Sep 7, 2008.

  1. I have a short position in citi for about a week.
    Do I sell at open, or wait till markets pull back?
    either way I think i'm in for a loss
    I think the markets will rally like crazy tomorrow
    I'm F@#$d
     
  2. I'm new to this too. Probably even newer than you.

    But I am LONG. In fact i am up to my neck in long position and am so excited about Monday.

    My broker has a margin account and I have taken advantage of that facility to average down. So now I am in a perfect position to take advantage.

    IMO you should do what you think is right. But if I were in your position I would close my shorts and go LONG.
     
  3. You both will learn to remove emotion from your trading...
    One way or another.
     
  4. NO, I need to learn to get out of all my positions by end of day.
    No more holding over night
     
  5. you are right about that.. NEVER hold positions overnight!!! on my garavestone it will read;"he never held over night except once and he got his ass kicked then he did it again and had a heart attack and died".
     
  6. A blind man was describing his favorite sport, parachuting. When asked how this was accomplished, he said that things were all done for him: "I am placed in the door with my seeing eye dog and told when to jump. My hand is placed on my release ring for me and out I go with the dog."

    "But how do you know when you are going to land?" he was asked. "I have a very keen sense of smell, and I can smell the trees and grass when I am 300 feet from the ground" he answered.

    "But how do you know when to lift your legs for the final arrival on the ground?" he was again asked. He quickly answered: "Oh, the dog's leash goes slack."
     
  7. i'm staying short, infact (although I generally don't do this) i doubled up on my shares this morning
     
  8. dsq

    dsq

    If your a position trader holding overnight is fine...daytrading is minimal profits and lots of banged up nerves...

    however,this news is not bearish for banks...in fact it will stabilize financials to some degree.I wouldnt count on financials revisiting their july lows...try to get out with your butt intact and move on to another trade...