SPG -- I got wacked in this being short

Discussion in 'Stocks' started by lolatency, Mar 13, 2009.

  1. I shorted this with a really small amount (50 shares -- not even a full lot) thinking when it broke $27 it was over -- I got in around $26. Then the market rallied, and I'm sitting in a loser [forced to hold for 30 days -- I probably should've bought a cheap put a few months out at $20 or something]. So I'm out $500, when I thought my downside was probably going to be $4/share tops. My target was sub-$20. Had I been trading this without the 30 day rule, I would've locked in my profit at $25 and bailed. The market came back at me after I had a 10% gain on this thing.

    The retail numbers weren't as bad as people were expecting it seems, but I fail to see how these guys can pull it off in a harsh retail climate. There's no way that stimulus is in the pipe yet -- the analysis say it's because gas is cheap.

    Why is this thing so explosive? Just moving with the market? Aren't malls basically empty these days? Anyone else have thoughts on this?

    Just beta?
  2. I smell government manipulation today.

    Lots of retail investors jump in covering shorts but institutions talk obscure. - weird.