Bought it at $30, nice round number on extreme weakness. Given the same circumstances, I'd it again. Averaging down, aka Martingale isn't approrpriate until the probablilities are there. Staggered buystops above a triangle. Distinction between probabilities and possibilities. It is possible to move 10 points in a day. Particularly with the aid of a 3 point gap and a newsworthy alibi. The risk/reward ratio on a short position is dubious. There are shares to borrow. But, the mouse houses having none is a clue as to what type of individual is short. Ditto for a 20% move Friday. All in all, the fat lady hasn't sung yet.
The gap up had me shorting, I shorted the gap open and the ensuing run up. It was the smart and profitable trade. CFC was up some 28-30%? It was never going to hold that run up. Closed the position that day. It was a successful trade.
The gap up open was at $11.69. The intra-day low was $10.42 (which you didn't get). Assuming you were close, you're going suggest $1.20 per share (weathering the "ensuing runup") as a SMART and profitable trade? Yep, it's better than a loss, but it's not even one ATR and you would have had some drawdown. Not to mention, not all gaps fade. Oh, smart. Is your ego that fragile you have to broadcast such things? Attached is a chart. A sorta panoramic view. Just think, had YOU shorted on a break below $40 and remained short to the present, why, you'd have something to write about. Not to mention NO tax liability. Shorting a stock that's moved from $42 down to $10 is akin to buying a stock that's run 400%. Not to much of a risk/reward ratio. And 42 to 0 and 10 to 0 are both 100%. Nominal of course. Yesssssssssss, you are smart. You can tell from the mouth. And talented. It takes talent to get wet in a rain storm. Shall we go through the well lit Lowe's stores versus the dark, dank miserable Home Depot's and the correlation to stock pricing OR, do you wanna let that sleeping dog lie?
LOL the foul mouthed pervert was trying to get my email address also. He is a sad pathetic attention starved individual, I recommend putting the weirdo on "ignore".
Efficiency, the guy who bought CFC in the 30's and held like a deer in headlights while it plummeted below $9, is still here with his same old know-it-all condescending attitude....AND he's got the nerve to tell guys who actually made money trading CFC that their trades were bad (even though he needs a triple to break even on his shares)!!!!! Only on ET can you find stuff like this. LMAO.
My firm sends me a consolidated 1099 which is over 1000 pages. Maybe a lonely, arrogant, know-it-all, foul mouthed, lying, CFC bag-holding, douchebag like you has time to make spreadsheets on 1000+ pages of trades, but most other people don't. P.S.- Are all corn farmers weirdos like you?
LMAO I once posted a few weeks back I was going to make an intraday trade with the intention of course grabbing what I felt was available. I pocketed a little over $1000 I think it was, .......the perv put down the trade. I can't recall all the incoherent babble he posted.....I don't speak or read "Cuckoo" very well and "ignore" the idiot....well except to laugh at him. I bet the crazy foul mouthed perv is still holding his $35 CFC shares. I bet it's driving him nuts......Hahahahhahahahahahha! LMAO he definitely is the creepiest lurker/stalker I have ever encountered....
I posted this in Economics but it fits here. If you want to see something scary go to http://countrywide-foreclosures.blogspot.com/ Check about 1/2 way down the page, past the current list and see when on October 23rd Countrywide accidentally listed 195k REO properties. You can actually select a state and see which houses are listed. They include addresses and brokers. There are around 350 Countrwide houses for sale in my area today but that day there were just about 10x more. Now I know only one of these houses that were added for a day because of a tech glitch and it is on the path to foreclosure. A year ago CW had around 4k REO houses; today it is over 14k. This one day, because of the âtech glitchâ, there was 195k. Go to the listing ½ down and check your state and area. Drive by a few of the addresses in your area and see if these houses are vacant. Per some others who did this, the mistakenly added properties they saw were unoccupied. Please report if you do see anything.
I hope this is pumped higher and people think they are in the clear with CFC after this rally and after the FED BS. Then it's fade the tan man time, lawsuits come, other shady things surface, etc...enjoy the ride to $13-14.50 by Tues. perhaps.