nope, its a drawdown right now. not a loss till its taken, but this one is FINISHED and is going DOWN! word up. surf
It will eventually burn. It's difficult to time this one. Every earnings the shorts got toasted. Look at HLYS that's what will eventually happen to crox. However, CROX is still riding high for the time being.
Funny about that. On my brokerage statements, and everyone else's, when you lose on a short, your account is debited at the END of the DAY. Money is removed from your account. It is marked to the FINAL PRINT in the stock. So if a normal person shorted it @ $49 and doubled up @ $51, they would have lost alot of money in their account as of the close today. But not you huh ? That's the way it works w most accounts, but not the mighty smurfs. I run alot more money than you, and you have to be pretty sick to describe a loss on a short trade as a "drawdown" and not as an actual loss. You and your people ( "WE" as you say) are out of a cartoon.
You have to understand, this is how surf does his market analysis - from an altitude of 50,000 feet (see image below):
To answer your inquiry, Mr. Surficore, I think itâs about time you take a look at (since this is a stock forum) at <b> RS</b> - <b>Reliance</b> steel and aluminum, baby!
well Surf, i think you were a little too early, but right now the stock is showing weakness, a lot of it. it ran for a high twice without breaking it, then on the third attempt it didn't even reach that high. if i was to short that stock i would do it now with a stop over yesterday's high which is 59. of course revising and continuous assessment is viable depending on market conditions. just my 2 cents, Simon.
After looking at the chart again, daily and hourly, i would be very careful and maintain that 59 stop. it looks like it's forming a pennant which started monday (you're welcome to give me your opinion), and suggests a breakout to the upside, soooooooo be careful.