When I shorted everybody loved the stock. It dropped and there seemed to be no floor. But now, sadly, too many people are pessimistic, and so I had to cover.
As I said yesterday, we needed a big plunge below 'support' of 130 so that the traders buying will have the stops triggered. This is important. So I bought now. Most likely it's going to 0. No problem.
Pennystock is right. Nobody says you have to be short. But owning this is stupid. See FB board where I talk up jcp shld odp spls HSBC lyg rbs bcs.
If there is a pullback get odp spls shld jcp. Feel free right now to buy British banks rbs HSBC bcs lyg since billions have been pulled out of the market by investors.
The pharma companies kept going up on bad days. A safe haven for those seeking shelter. Before they all plunged. I added now to my short pos. This time just because it 'feels' right. Have a stop on this, not the rest. But very little money at risk because shorting is stupid.
Oops, forgot. Recently added to JCP and SHLD long positions. If it's obvious in markets it's obviously wrong. TIF may be a buy. ODP and SPLS bought after the merger was vetoed. Yes, retail is where money should be put.
It's not good to use facts and logic. Impossible to do. Gets one into endless trouble. This is my favorite and biggest short. And the widespread public and investor enthusiasm is the only reason. Anything else is too confusing. Shorting is stupid I admit since you need a stop. So just a bit. For entertainement only. Not enough to make any real money with. AMZN and FB are also good.
Shorted recently at 65 when the great news broke. And then today it rocketed up again on news. Thankfully, it dove because everybody is bad mouthing this. So I covered. Had the reaction been positive I would have stayed with the position.
You do want a lot of shorts when buying. And when shorting, hopefully there is nobody with you. You must be all alone in the investment world.