You never "gave me anything"?! LOL!!! Yeah, ya did. You gave me THOUSANDS. It was YOU buying high that allowed me to short When I was "borrowing shares" and selling high, I needed a buyer of those shares - and YOU were it! LOL!!!
See ... that's how shorting works!
... today. Have been short since oil was in the 90s (both SCO and DNO). Could trade in a 35-45 range for a good long time. The big move has served its purpose for me. GLTA (except kingly because he is so annoying! ;) LOL!!!)
No. I took profits all the way up. I rarely move completely in or out of a position. It's too big a bet and I'm not that smart. No one can catch the top or bottom consistently - if you do, you're lucky from time to time. I just try to catch that meaty part of the move in the middle.
But I held about 15% of my position through the spring and summer - which was painful, but I knew I was right - that the bump couldn't be sustained, and besides, it was all house money at that point. I reloaded a portion about 30 points ago so I'm back to about 40% of my original position. I don't expect to buy anymore SCO for a while..
I actually did that today. Took a small position in UDN. Have been looking at it for a while and today was the day. Came here to see what everyone thought and found your lonely post. I am also long gold through GLD which I would recommend to anyone who believes the dollar is overvalued.
Sorry, agentkagent. You made two principal mistakes:
"as many professionals said on CNBC"
"So I decided to make a quick profit"
"USO will be thru $16 in such a flash your head will spin."
I think you meant to add ... "tomorrow".
"so many bankruptcies on the way q3 and q4."
And I suspect, one of them will be you. LOL!!!
"be shorting now very very dangerously now"
If I hadn't been short since crude was in the 90s, I'd agree with you. The difference between you and me, kingly, is I'm playing with house money while you are margined to the hilt!
This has nothing to do with liberal/conservative. I'm as conservative as it gets. It has to do with smart/stupid.
You cut and pasted this from one of your early July posts, didn't you?