Tuesday, October 13, 2009


sold that AIG pop and short again
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4 comments:

CN said...

A very nice place to take your profit, what made you go back and short?

I can see when you'd want to reverse a position if you get stopped out, I guess in this case I'd be too scared to try to go against that flow, unless you saw some weakness?

1:45 p.m.
Scott said...

I look at it this way: in this trading environment odds are there will be a pull back after a big pop like that. i'd rather take my profit on the pop and play the pullback. If the short works I've got the jump on things and my stop will never be threatened. I will also not watch in anguish as my profits drain away in during the pullback. In this case it sort of worked and I made a few bucks and jumped back in long, then short again with decisive moves. Eariler before that big pop AIG was weak so it felt to me like a fake out move anyway against the day trend.

7:58 p.m.
CN said...

Yeah, I'm learning fast that profits need to locked now more than ever it seems. Looking at posts you've made from last year, it's crazy to think a stock could run like some you've shown.

9:17 p.m.
Scott said...

dude, last fall SKF, SRS would pop $10 and then run for another$40 before reversing and do the same in the opposite direction. it was day trading nirvana.

10:32 p.m.

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