AXR...yep..I thought so

Quote from traderich:

Well, I guess I am confused. Is it possible to be wrong and still make money?


cheers.
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Yes it's possible to be wrong 70% of the time and still make money. Obviously you have to be right to make money, but you seemed more concerned about being right. As I said it was a very risky trade either way. When you make trades like that you WILL be wrong many more times than you ae right. You just have to hope what you make covers the risk. I doubt 100 shares of anything covers much risk.
 
Quote from traderich:

Well, I guess I am confused. Is it possible to be wrong and still make money?

If I short the stock because I think it will go down and it does go down, I am right aren't I? And I have an unrealized gain right now don't I?

I guess the only way to be right about something and lose money is to not finish the trade (i.e. wait for the stock to come back up and then sell it!).

I am planning on holding the short until 80-90 depending on what the stock does in the next week or 2. If the stock stabilizes at this price and slowly moves higher, I will cover, if not I will let it ride down even further.

cheers.
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Everyone is right sometimes, some more than others. Only the insecure losers come here and brag in the hopes of gaining applause. It's kind of like saying your dick is 8" and thick. Unless you whip it out, no knows the truth.
 
you know how I make mine 12" long?

.....

I fold it in half.


I only spouted off about it because when I originally posted on AXR, I was unsure about it and was wondering if my thoughts on it were correct. I still think the stock has somethings about it I really like, namely high insider ownership, and small float.

That does not mean that I thought the stock should be trading at 140 and should have more than doubled in 3 months or so.

I like the stock, and my short is just that...for the short time it takes for it to come back from the stratosphere where it went!
 
Quote from traderich:

I have to laugh at all the naysayers on here who said I was nuts for wanting to short this stock last week!

Yes, the stock is already heavily shorted, and yes the insiders own a ton of the outstanding shares thus creating a small float.

But, look at the stock and where it is headed. Major correction in the works!

I love it when I am right about a stock!
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I wouldn't suggest making a habit of shorting high RS stocks hitting new highs, but it has worked this time, so far.

Good for u.:-)
 
As I said earlier in my posts, I am hoping it drops to between 80-90 in the next 1-2 weeks. If it does I will cover. If it gets support at this level or starts back up for 2-3 days, I will have to cover.
 
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