APA drop has not happen yet, wait til market corrects.
Remember a 3% decline in the market will yield a 6% drop in APA nearly. It will overshoot my $70 target for certain....
This action is with an up 1000+ point market. Just need to put it in perspective. Also Apache looks like a deal to some. How do you think it looks 2 months out in the 60's? With possible more bad news, oil price fluctuations World oil politics. This thing is WAY too high for all that risk.
Do not think you are trading today. Pretend you are trading Apache in August - Today.
Bet I made more riding APA from 75 to 85 than you did with your short play ... and now I have a chance to do it again while you are still paying interest on your short sale. Why not cover and go long? I will tell you when to buy and sell.
My short costs me .9% a year. I would call that free and there is no way you could get me to a company with 11 Billion in Debt with 300 Million in the bank with capital expenditures that are coming and assets that are supposedly owned in hostile countries. Hehehe. This was a very calculated short for me. Very strategic. Riding it up from 77 to 85 while the market surged a 1000 points was no guarantee. Because you made money it makes you feel like you are right. I deem you were very lucky!