For the past several weeks we told the serious investor that Shfl was so over priced that they should keep their powder dry for a short play.Last week we told the the serious investor that the time was ripe to short this over priced dog.Our group shorted 44,000 shares at an average of about $31.80.As we post the price is $30.40 we provides a PROFIT of $61,600.We have locked in PROFITS of $47,000.00 via pre set sell orders if the price rises.This is our standard mode of operations, and our sixth short play in the past 21/2 years. All of our short plays were profitble.
Kblob your such a liar. What happened to your short position of 25 last year and the stock went to 35. Tell me I'm listening. What a loser.
What's so special about the number 47,000? Is it that my VNX short position is 47,000 shares?
If the price rises,our formula for keeping shorting profits is to always lock in about 75% of our profit.Therefore,to protect our profits, we set appropriate daily sell orders.In this instance we are up $61,600.00, and $47,000.00 is about 75% of $61,600.00.We try not to get gready, and we don't fight the market.If the market turns against us, we just take our built in profit of $47,000.00 and wait for yet another opportunity to again short Shfl.