Cit

P

pumpanddumper

Okay, I made a couple trades today. One was CIT. So I got the news on and hear of the halt. I immediately think dead cat bounce at $7.50 and think of going long. I fag out. It's jumping around. Then the covering and momo takes over and she's flying. F me I say. At the end of the day I want to fade something. This POS is at $9.10. I call Bullshit and this run is over. I say short it to the $8's. I throw in 500 short....oh shit, she has legs and is taking off with everything else. $10.10 crosses the tape, down a few hundred. I throw in another 200 shares for laughs at like $10. Boom, she starts falling. I just want out about break even and call it a day. I cover and get the f out. I want no part of AH bologne and CC. I'm thinking they will reassure investors anyway...

So whats the future for these guys. Will they make it?


03/20/2008 14:50:09 Sold Short 500 CIT @ 9.101

4,540.45 $64,021.80



03/20/2008 15:25:55 Sold Short 200 CIT @ 9.99

1,987.98 $66,009.78



03/20/2008 15:54:56 Bought to Cover 100 CIT @ 9.28

-928.00 $65,081.78



03/20/2008 15:54:56 Bought to Cover 600 CIT @ 9.31

-5,595.99 $59,485.79
 
Quote from TraderC:

Today was big up day and yet you can't make any money.

You may want to find another career. :D
More...

No, I made money Thursday actually on WM. I left a lot on the table not getting greedy into EOD.

I tried getting cute at end of day to fade something in CIT. The trade went against me and I got out before there would be damage done. I got out even steven on the last trade and frankly happy with it.

The key is to make money on big up days and down days and even flat markets. At least that is what I try to do...Some people are just too bullish or bearish and not taking advantage of this environment in both directions.
 
Keep up the good actions, long and short. I am sure your broker is happy to know you. :D

Did you trade V? It was a great ride.
 
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