the problem of swing trading

is when you get a profit warning in a long position. This happened today with NOK, down almost 20%. No chance to get out, stopp- loss useless in that situation. Portfolio not that much down because of short positions like SAP, YHOO or MDC, but still it hurts.

 

yea, it sucks when that happens, but at least for me it has happend both ways, it kinda evened it self out, for me at least

 

yep, that's exactly why i daytrade. don't have the balls to take it like that.

 

There is just as much risk in a daytrade.

 

EXactly Brandon...I remember a drug stock a couple years ago,LLY I think...It was trading at is high for the day momentum was excellent and daytraders were pushing it...boom halted..FDA ruling...opens down $10...probably wiped some daytraders out.

 

There can also be news moving the stock higher overnight past your profit target....

 

Out of curiosity, why were you long NOK for a swing anyway? I can't find a single reason why anyone would have wanted to own it from a technical view.

 

Only if the drop occurs intraday.

 

DBPhoenix,

Brilliant.


--MIKE

 

Well, this drop occurred overnight. I don't see the pertinence to daytrading. One of the benefits of daytrading is avoiding this sort of thing.