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AuRico Gold Inc. Ordinary Share Message Board

  • jack_baron jack_baron Mar 12, 2013 11:25 AM Flag

    Trade & Ipad, how much did you make on AUQ in the past 5 days???

    Wed, March 6, $5.97, Tuesday, March 12, $6.87. That is a 15% gain in just over 3 trading days. Did either of you make a dime off of this?
    The point is, falling in love with a stock, or falling in HATE with a stock, makes you loose money. Everything that is happening to AUQ, at this point, is clearly tied to the price of gold, and very little else.

    By the way, what has happened to crewcoachmike?

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    • I agree that you were right on the short from $8.30 down. Honest question: do you play the shorts down, or do you play ups too?

      • 1 Reply to jack_baron
      • (this is the only real way to play a directional bet in this market) you have to continually scale in and out of your position. I am significantly less short than I was back at $8.30, and I expect to exit the last trade soon.

        On the long side, I use the constant-dollar-exposure framework (so if the price jumps 10%, you sell 9% so that your gross exposure in dollar terms remains roughly the same). You can't really do the same on the short side, so you have to pick your points and just continue to cover with every 5-10 cent move (and obviously short every pop). Today I covered in the morning at 4.80, shorted at 5 and 5.05 (1000 shares each), and then re-covered at 4.90 and 4.85. That way, in the net I covered 1000 shares on a down day and still managed to take advantage of an intraday pop.

        If I were long, the play would be opposite: buy more as the price falls and sell on every pop. To do this, you need to be disciplined and make sure you always have some dry powder in case the price falls to a new 52 week low (same thing on the short side, but if you are shorting you probably have portfolio margin and more rope to strangle yourself with)

    • Crewcoachmike disappeared.

      I shorted from 8.30 down to the high 6's and shorted again a few times. I'm playing with profits at this point.

 
AUQ
2.860.00(0.00%)Jul 2 4:03 PMEDT