Short Rimm @ 38.97

[Redneck]

Quote from stock_trad3r:

so many noobs. should have went long.

Some of us are tryin to help this guy - you're just rubbing salt into a wound - hope you're happy


Redneck

 

[trader2000]

the best way to help this guy is to point out what he did. he DID NOT use the charts correctly. i have been down that road many times in the past and i have learned the hard way. there simply was no reason to establish a short position in this stock.

 

[mister_doodi]

You went short at the low end of downward swing. You should really get in at near the top or mid swing. If you have to have that stock at the near bottom you need to a confirmation of a support breakdown.

If I was in your situation I would probably dump it around 42 or if you really want to be optimistic high 41's and don't look back at the share price.

 

[quin8670]

Quote from NY_HOOD:

this is why traders lose money and blow up accounts. they refuse to take small losses and admit they were dead wrong. this displayed no short sigmals when the OP posted his short. the poor guy is getting buried and thats too bad.

You refer to short signals as though there are a quantifiable, specific number. This is a falsehood.

 

[hajimow]

When a stock is at its 52 weeks low and you are not sure whether you should short the stock or not but you really want to do it is:
1- before entering your short order, write down your stop loss. I said "BEFORE". And yes did I say BEFORE? Yes I said BEFORE. Not even at the same or one second later.
2- Instead of shorting the stock, buy PUT. Even in this situation, if the option value drops to 50%, get out.

 

[NY_HOOD]

up another 2 points again today. hope you covered early.

 

[Redneck]

I hope you're out as well


Take Care

 

[cashmoney69]

got my sell stop to short some rimm at break of lows. anyone else shorting this thing?

 

[option_trad3r]

funniest thread ever RIMM going to $900