Yep. I'm an idiot. An idiot who made a lot of money from real "smart" money short accounts the past few weeks.
An idiot who liquidated part of his position this week and has stop loss protection on the rest.
An idiot who loves to roll on the floor laughing at short bashers here who have been spewing for months about how clever and smart they are, The proof no doubt, being their HORRIFIC losses as longs steal their short account, margin called, cash from them.
Make that "idiot" cubed, if the alternative is to be a genious like the short bashers here who told us how overvalued at $30 this "soon to crash", KREM was a few weeks/months ago, when it was a "sure thing" that insider dumping and a high P/E would collapse the share price.
I hope I NEVER get as smart as the long term shorts here have been.
For someone going short now on the other hand, at least they have a fair chance. The long term bashers however, have taken a HORRIBLE beating as payment for their simplistic valuation model ignorance.
>>Easiest thing to do is sell your option contract,<<
Oh really? Have you ever put limit or even market orders in on thinly traded options like KKD, where open interest is miniscule and option premiums are enormous?
Give it a try and see how successful you are at getting anything resembling a fair price on the spread when it comes time to sell.
"Easiest thing in the world" indeed. Spoken as only someone with extremely limited market experience can speak it.
I see your point but there is one flaw in your analysis. If you buy at $60 and put in a stop loss at $53, there is no guarantee you will get stopped out at $53. Why is this? A couple of reasons:
1. Well stocks do gap up and down. This means the stock could close at $60 today and open at $30 tomorrow.
2. Once your stop is trigger at $53, you wait in line with everyone else who is selling. If there are many many sellers with no buyers, you might get out at a much lower price than $53.
While either of these two scenarios might not play out under normal conditions, but if they do, your losses could be much more than the 10% you sighted in your example.
Hey yall this thing will suffer some profit taking by the MM's tomorrow,but will stay up from all the sweating shorts playin CYA. The MM's want a good sheet to show their managers on monday and to feel good about over their gin and cokes this weekend. Look for the Lazerus Effect the next three days and then a up trend as new momemtum is gained by all this hoopla kicks in.! These are great products with a large market to reach. Saturation will not be reached for years to come and these things fly off the shelf everyday. They have great taste and are a good value for the lowly consumers and they recognize these aspects. Good luck yall from SUNNY Myrtle Beach.
Why don't you post what your position and cost basis is before you start slamming others? Also, please post the minute you decide to sell. Then we'll all see how smart you are. Don't tell me, you bought at 30 in April, right?