Yes, but at least he reported at 10:17 am EDT last Tuesday 6/7 that he closed his short position near the high of the day for a small loss. I would have been crying foul, if he had reported at 4pm on 6/7 that he had closed his short position at 2pm near the low of the day.
Whether he actually makes the trades or not is moot in terms of his veracity. He notes his position in essentially real time and without the benefit of hindsight. That's good enough for me.
I don't agree with what appears to be his long term outlook on NLS, and am not comfortable with his trading style. But if he quotes his position in real time, at least he's not supporting his views with post-dated trades.
Who knows whether he is actually making the trades he claims, but the prices he indicates are accurate per the time he makes the claim. Otherwise he could have waited a day and reported having covered his short at the low price of the previous day's trading.
Integrity means that when he says he covered, he quoted an accurate price at that time.
If he's going to post his position on the board, he needs to do it in real time to be believable, otherwise no one could check his claims and it would be just so much hot air.
Again, I respect your integrity. It sounds like you did well enough on the early short that you can afford this small setback.
As you can see from my post, I still have a ways to go to not have any losing positions in this stock. If this run continues, I suspect you'll have more shorting opportunities ahead.
I was wondering if being about $1 down on your short position was bothering you, so I went back and looked at the historical prices from the 6/24 - 8/6/04 timeframe to see your behavior last time. I was surprised to see that you were down at times then by as much as $1, as well, but stuck by your conviction that you would get a chance to cover for a profit.
Last time that only lasted for a day or so, and NLS was generally around your shorted price. This time it seems to me that NLS is occasionally dropping to your break even point, but has been more often closer to $0.50-1.00 above it. Do you have an exit strategy should your short prove ill-timed?
I guess I'm wondering if you have a stop-loss buy order in place, the way that longs are encouraged to put in stop-loss sells to avoid large losses?
Just for an historic persepctive.
Flea reported going short last time @$18.70 on 6/24/04 and then reported covering for a $1.20 gain on 8/04/04
If he had gone long @$18.70, today he would have been up about $8, plus the $0.30? dividend. If he had bought additional shares and gone long last August, today I would be singing his praises and he would have been up by more than $9. As it is, he made some money with limited risk, but could have made more.
Will he do better than the longs this time? Not if NLS can keep performing the way they have for the past year. Steady earnings growth and new products coming on the market.