I shorted CHTP at 2.93. It is now at 2.82. Time to cover?
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Skips69 Journal
- Thread starter skips69
- Start date
I shorted CHTP at 2.93. It is now at 2.82. Time to cover?
Quote from riskfreetrading:
Today is Tuesday (evening):
1. CLDX has been good on short side for the last three days. How are you making money if you are long?
2. CHTP: now at 2.90. I hope it will hold there till tomorrow morning. I would short it, and look for profits at around 2.78 (or even lower if it weakens).
3. SQNM: similart to CLDX (point 1).
CONCLUSION: You are holding garbage, and you are losing money.
I appreciate the input (seriously), but when I bought KV.a at 2.24 and it dropped to .68, I turned around and tripled my position. It paid off well over time.
CLDX & CHTP were recently acquired. Yes, they are down, but I don't see them being below $3 for long. What do you know about these that I am overlooking? They're both releasing earnings on 11/2.
SQNM was a bad call. I should have sold when it dipped below $4, but now I'm holding and too stubborn to unload it.
My strategy is not day trading, so I'm not dumping my positions when they drop over a short period.
Quote from riskfreetrading:
Today is Tuesday (evening):
1. CLDX has been good on short side for the last three days. How are you making money if you are long?
2. CHTP: now at 2.90. I hope it will hold there till tomorrow morning. I would short it, and look for profits at around 2.78 (or even lower if it weakens).
3. SQNM: similart to CLDX (point 1).
CONCLUSION: You are holding garbage, and you are losing money.
Hmmm. Let's see. CLDX closed at 4.20 on Tuesday. Today it closed at 5.29. You're right. How could I possibly be making money?
still have that KV.A position? that thing is going to be a BEAST. $1500 per shot is unbelievable.
I did have a position in KV.a and am delighted to say that it TRIPLED my retirement savings. I sold my shares near the $11 mark and then proceeed to buy shares on the way down. As of this message I am holding 15K shares at a cost of 1.91 each.
Looking back through my journal, I sure wish I would have held those JAZZ shares!
Looking back through my journal, I sure wish I would have held those JAZZ shares!