Give the guy a break. He said that one day it will break out and maybe this is is that day. It is silly to argue about trading strategies. Everyone wants to look smart and successful, but nobody ever was right every single time. Not even Buffett with all all his billion.
My position is averaged at 9.50 and I held it 2 years. Probably should have sold it long time ago, but I didn't. Still waiting for a break out. In the meantime, I was also selling $7 put options on BSX, month after month for 2 years. Made roughly 30% profit and still didn't break even on my paper loss. Stupid? Smart? Neither. Just trying to do my best.
Good God, john, give it a rest!
I understand that after 2 years losing to BSX that you are eager to brag about your wins, but really! If you did short today when it broke 7.33, the best you could have gotten would have been 7.32. It closed @ 7.27, and you have not covered, so you are up a whole nickel and screaming like you won MegaBall or the Stanley Cup. Nobody knows where it trades tomorrow, but I know what I will do when it does whatever it does.
The one thing I will not be doing tomorrow is calling people fools and bragging about my trading prowess if I make a nickel on BSX, ESPECIALLY if my position is still open.
Of all the things that an investor can not afford, pride is the most expensive. I suspect that your need to be right will have you holding your short position way too long, as you did your long. If not this time, sometime. The best way to deal with a stock is the same as the best way to deal with your wife. Don't expect too much, and learn to say "I was wrong" without hesitation. About the worst thing to do to either is say "I was right 3 times in a row."
It is a terribly expensive character flaw, and your a$$ will get kicked.
Being on the opposite side of BSX, I can not wish you good luck. Good trading and good health will have to suffice.
btw, why were all your losses the fault of your family broker, but the wins the result of your personal genius?
Why do you insist that someone is a fool for their opinion? I am long.
Stock didn't hit 7.50 today. I do not think you a playing with real money. I think you are making up stories about shorting just because you have some axe to grind against BSX.
UCF dad I think he is for real. His messages are consistent and follow a logical order.
Yours on the other hand do not.
You want to see me account holdings, don't really care who sees them? I was long on BSX for a very long time, I lost money holding for so long. But when I realized that this stock has been stuck in this 7 - 7.50 range I started shorting every-time it hit around 7.50 and then covering at 7. Then I buy it and sell it at 7.50. It is going to be stuck in this range for awhile. I have been on this board forever, every day people say $10 plus by end of year but it never happens. The problem is that this company has failed investors for years so It has a lot of making up to do.
I do agree that one day this sucker is going to break out but not for the summer, but possibly by year end. You can just make more money playing this range, just look at the 6 month chart!