just before closing bell today. My purchase prices are now averaged down further. Now holding 150 contracts each of Sept 25's & 30's. Will start buying Oct puts on Tuesday if KKD stock price moves up temporarily. I strongly believe Mutual Funds and Institutions are going to start unloading in the next 10 days. I don't think they want KKD on their books when they have to publish holdings at end of Sept. I believe it's only the mom'n'pop fad buyers with their 100 share orders who held KKD up this last couple days and the big "turkey shoot" starts next week when the real adult players get back to business. At least that's my thoughts and where I've placed my bets.
Hello, concerning the uptick rule, there will be 2 things that are very important. The 1st is you must be trading thru direct access, not a broker. 2nd it is best to only use it in a very liquid stock where fills are easy to get, when not in a freefall.
Heres how it works, obviously you only want to be short @ the top of the trading range. It is there & sells just keep coming in & no uptick. You place an order to buy 100 a tick above the best bid, & also have an order ready to sell what you want to be short plus the 100 long. Your buy creates the uptick & your sell can be executed. Depending on the size of your short & the speed of execution will determine your fill.
I know traders that long or short csco, intc, orcl, by placing limits @ the top of the trading range when filled long, or @ the bottom when short. These are scalp trades on a minute chart for 1/8s - 3/16 or 1/4. I know that stocks trade in decimals, yet these are still the target area or what the range will be dependent upon s/r also. Scalp traders look for these range days, as well as other opps.
Heres an example one day last week csco was ranging between 17-17.20. 4 opps to buy @ 17, & sell 17.18. Buy 1000 preferably 2000 @ 17 when filled place an order to sell 4000 @ 17.18, which sells your long & gets you short 2000, when filled place an order to buy 4000 @ 17. It doesn't sound like much but each .18 gain on 2000 = 360 - comms round trip of 20-40 depending on broker, some do better & it nets you 320 a trade. One does this 4 or 5 times & it makes a good day. csco that day could have been done 7 times @ least.
Remember though this is a daytrading scalp strategy or one must have direct access, & it's not for everybody. It may do you no good now, someday it may be of benefit. May it Go Well for You & GFtY! Kelly
"No better time for a hot Krispy Kreme donut."
For me, I enjoy a steaming hot cocoa. For others, a KK donut does the trick. No argument there.
Still no reason for this over-priced stock to continue hovering in the stratosphere. Valuations matter.
No thanks. Those special cases that you are trying to point out are pointless. You seem to have a tendency to just present one example or a special case. Is is amusing to you. It is for some people. I know. But, not to me in many cases like your argument. People can say "Winter is cold", and it makes perfect sense. You don't have to say "Some Winter days are cold" just because not every winter day is cold. If someone argued "NO, Winter is not cold" by pointing out one warm day in winter, it doesn't amuse me at all.
Just my opinions.
My ask price will be lower than the current ask if I want fill with a limit, & I don't see the market going to the current ask, or one could just short with a market order. I may be filled @ my price or higher in a limit order, or @ my price, or lower or higher in a market order. The point I'm making is the uptick rule applies to a bid uptick not an ask.
I'll let you in on another fact I can get short when the market is going down & there is no uptick on the bid by creating my own. There is also a way for professional traders to actually create a decline in the stock price by using a bullet, & being long shares. Should you be interested in this knowledge which is fact & used, not just my opinion let me know. GFtY! Kelly
You made a general statement, "shorts have a structural bias that makes them more emotional than everybody, or anybody else." I don't remember whether you used anybody or everybody. You did not state some shorts, you stated shorts that encompasses all, it may not have been your intent it is what you wrote.
Since you had no reply to my rebuttal of your other statements or opinions. You're unwilling to admit you were mistaken, or you just aren't going to respond. No need to apologize, however should one chose to do so, sorry is just a word, I'm sorry is the appropriate response. GFtY! Kelly
Still, in your example, the short is filled at the ASK price that happens to be short seller's ask price. There are always higher ask prices, nothing strange about that. Besides, my point remains valid. There is a rule that prevents Short from intentionally driving down the price by selling at lower and lower price during down tick.
Just my opinions.