Wes--Totally agree. Made some nice $$$ from my FB short, and have covered. Got killed on FAS Friday, but it is off $4.57 now and looking better. I see you're getting some nice relief in your APA short. When I keep shorting as a stock moves higher, I take profits on newest short and keep holding. With your APA do you do that, or keep holding a larger position in keeping with your original targets?
Yes I usually do the exact same thing obviously assuming i will never catch tops and bottoms (but sometimes do with that strategy). With APA however I will not be removing any cash until I am even and then I will pull off 1000 shares at that point. I have too much right now for my comfort with respect to the original bet.
Nice call on Facebook as well. Had a client that did the same and I put him in RIM the morning after Facebook RIMM at $12.20 heheh He is happy!
well sitting here just under to 200dma at 84.50....oil popping..AGAIN!!........if it doesnt hold here back to low 83's quickly...strong market close today could be telling for another move up in Feb...this equity appreciation window still open and giving good momo..I'm tired and I think a pullback is coming cuz I'm tired...I just see alot of overbot conditions in many stocks..they will pull in...imho
The cost to short is is .9% interest to borrow plus a .8% dividend! Per year! To short this is practially risk free in my opinion. With their cash flow position the risk to raising a dividend or share buy back or what have you is also practially 0. The reward far outweighs the risks for the downside. It is my last hold out for initial trades beginning January.