You did good Dan. I know you're gonna laugh and say "yeah right" But I did cover Tuesday at $4.87 for a $90 dollar gain less comissions. I don't like to hold short postitions overnight. Event risk will kill you and I've been out of town so I haven't had a chance to post anything. Again......nice trade dan. I guess you'll have to wait a month to buy again per Media General's new fidelity rules.
Actually, I'm glad to hear that you already covered. I thought you were getting killed and I really don't take any joy in that. Also,I haven't seen anything about a new 30 day trading rule for MEG stock. There has always been one for excessive trading (30 days) with funds but not the stock. I looked for it today on my Fidelity account but saw nothing knew. I'm just looking for a 10 or 12% pullback to buy back in so we shall see.
I wouldn't mind a pullback before the earnings and a big jump after. Although it could keep slipping up and pullback after earnings. A lot of times when the stock pulls off the days high, it will retrace back up at some point. I also sold a small amount looking to put back in lower. Managed to double shares in the last year doing so. I have no reason at this point to think stock will not contiune to rise into the summer. Not looking to hold much beyond 2nd quarter.