I shorted NTAP around 39 and covered it before it went under 30. I didn't short it in the 20's, but I have now started a new short position in NTAP and will add to that position, even if NTAP goes up from here. I was sorry I hadn't held it longer before and see this as a gift, especially after covering some shorts in other stocks yesterday (while evaluating other stocks that remain overpriced). I'm glad I started with just 100 shares in case it bounces due to a silly recommendation that occurred after the bounce.
Have you not watched some of these nice pop stocks this month. I got into wynn before earnings.... Now down from $112 to $105. I bought into HD before earnings and it had a nice pop. Now selling lower than before a great report. take you money and run... You can always buy in later more risk to go up than down with this stock right now, if the trend continues. I would like to thank you all for the nice pop in this today, who does not like a 10% gain, don't lose it.
Do you understand math? I shorted at 39 a few months ago and covered those shares at 30 and a few cents. Though I didn't hold that short position for the dip into the 20's, I took a profit. I re-shorted over 30 after the report. This morning I chose to replace those shares with a couple of puts and I covered the shares within pennies of where I'd reshorted. Thus, I am short now, but with a couple of puts for now and no stock in either direction.
I'm taking the risk with a much smaller amount of money than I made when I shorted and covered the stock months ago. Remember, 39 is higher than 30 and as I wrote this morning I shorted at 39 (actually I added to that position with additional shorting at 37 and then covered all of it together around 30).