Shorted at $ 230-- Need some input ( I had bought Jan 220 puts at 6.55, now at 4.20 in 2 days)
Ok agreed, i don't think of break even, but seriously do you think that it might come below $230 by Mid Dec, it won't breakeven because still i might loose 10-15% because of the decay on options. Give me an honest answer, i think you are a bull, biut still i would like to hear
"Ok agreed, i don't think of break even, but seriously do you think that it might come below $230 by Mid Dec, it won't breakeven because still i might loose 10-15% because of the decay on options."
What's with mid-December? If AMZN keeps going up, she could be hitting an all-time high then.
I know you're in pain, but you still have about 2/3 of your money. Just liquidate and wait for the next trading opportunity.
Look at how the short camp is crowded with clueless people like techstrategy and philandjoel1e. Do you really believe we have people who are dumber than they are are out there en masse? They have to come in and sell in order for AMZN to drop sharply again, you know? Don't you think for now all dumb people have shorted?
For AMZN to go down hard, somebody (or robots) must sell. Do you know for sure somebody will anytime soon? I don't.
Again, AMZN always fluctuates a few bucks every day, up or down, and AMZN has gone up for four days in a row. A little pullback here is very likely. So, she can test 235-236 this Friday. If that happens, don't think and just liquidate your position, take a rest and wait for the next trading opportunity.
"If that happens, don't think and just liquidate your position..."
Priceless. Don't think (or cannot think) should be your alias... You embody all that is wrong with our predatory behavorial investing markets.
Viking, I have my suspicions about you, but just in case you really are scared and vulnerable, I'll say this. Never trust anyone who recommends against thinking critically. Take a deep breath and some time to prioritize your investments and ensure you have cash to see them through. If you don't, scale back. I suspect the right decision will be to raise cash elsewhere so you can ride this up from underneath. But, you have to make that call based upon your risk tolerance and exposure levels...
I think the bull trap has been set in a lot of bullcrap. I see this breaking 200DMA by EOY. Pain trade going to hit beta chasing longs hard... INTC will be above $22 by EOY as well. Yes, 2012.
Cash, if you are still reading these, now I am going to start publishing. CMG was chump change. This is one of the largest financial scams in the history of the world. To quote the Billy Crystal from the Princess Bride: "I save the man in black and Humperdink suffers?"... Inigo. "Humiliations galore". "NOW THAT IS A WORTHY CAUSE!".
That's how I feel about those perpetuating this scam. I've learned to ride out the noise, but real people who act rationally are getting hurt. To quote Jimmy Chitwood: "I think it's about time I started playing ball."