The Surf Report

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Quote from syswizard:

The thing about "Surf" is that he is so much like Doug Kass of SeaBreeze Partners who took a tremendous hit in P&L as well as self-esteem in late 2006, early 2007. It was almost embarassing to watch him on CNBC and take all of that "ribbing".
But ! Look at him now. He stuck to his story. His short positions have done well.
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Where do you see Doug Kass's numbers? I can't find them anywhere. How big of a hit did he take last year and how do you know he is doing well now. The market is not that far off it's all time highs. I seriously doubt he is even in the black this year.
 
Quote from marketsurfer:

interesting, thanks for the information. all the more pain for the longs when it happens------

surf
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Yes, brilliant ! brilliant classic surfer. With the stock around an all-time high and 500% above the IPO price, the longs are feeling the pain..
 
ok ok, price is staying in the death channel for now in the YM, remaining FLAT--however lower line is quickly being approached here. will trade the channel mechanically entering untill proven wrong or profits achieved per system guidelines.

CROX appears to be rolling over here from the initial pre open spike, continuing to hold short at this time.

surf
 
Quote from Bob Rowshan:

http://www.elitetrader.com/vb/showthread.php?threadid=98710

** Rowshan Report **

CROX is +$2.8 to $61.80 monday morning in pre-market action. A rumour says a potential stock split is possible that could send the heavy short interest stock surging over $65.

Question becomes: will surfer accept a stop loss and defeat, or will he cowardly say he's "doubling up" yet again?? Starting to think he's talking in 100 lots ??:D

Tune in..
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You think that adding to a losing position after price goes through the original protective stop is cowardly? No, no, no. You've got it all wrong, see? It's all about the courage of one's conviction. Allow me to explain.

Marketsurfer believes in being dynamic and flexible. That's the only way to be successful in the markets. So, before initiating his short position in CROX, he did his due diligence and determined that $48 was the price at which to short this dog with fleas. Further, he decided on an initial protective stop of $55.34. Now, that's not $55.33 or $55.35. No, it's $55.34. But, as a trader who "gets it," marketsurfer knows full well that one must be able to adapt to changing circumstances. And, as it happened, circumstances changed, in that price went beyond his initial protective stop. So, marketsurfer, being the ever dynamic and flexible trader that he is, adapted to these changing circumstances by moving his stop loss to 63 or 65 or whatever. And since the higher price only served to confirm his initial short assessment, it only made sense to add to the position. (Apparently, this dog now has so many fleas that it is airborne.)

No doubt, as price continues to change, so will marketsurfer continue to dynamically adapt. Therefore, if prices should rise above his new and improved protective stop, it would only make sense that he be flexible again, particularly when such a move would only accentuate the correctness of his initial short assessment.

I hope you learned something here.

(P.S. Surf, perhaps you should confirm with VN that he said "This dog has fleas," and not "This dog will fleece.")
 
Ok, we entered and were stoped out twice on the lower channel break presently flat in channel. as you know, 5 attempts prior to discarding channel.

staying short CROX.

surf
 
Quote from marketsurfer:

Ok, we entered and were stoped out twice on the lower channel break presently flat in channel. as you know, 5 attempts prior to discarding channel.

staying short CROX.

surf
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Good luck on CROX, looks strong however. Will you stay short if it breaks to new highs?

What kind of stop do you use on your index trade like this morning?

Thank you
 
Quote from ramora:

Good luck on CROX, looks strong however.

What kind of stop do you use on your index trade like this morning?

Thank you
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thanks. today its 10 adverse points from channel line.

it varies depending on the volatility of the day and other factors.

best,

surf
 
Good news for Surf's Crox short bet:

Largest Decreases In Short Interest

Whole Foods Market (WFMI) 9.3 million shares decrease

Charter 9.2 million share decrease

Opsware (OPSW) 8.9 million share decrease

Yahoo! 8.5 million share decrease

Dell (DELL) 8.4 million share decrease

Applied Materials 8.2 million share decrease

Crocs (CROX) 8.0 million share decrease

Much short covering has already occurred.
 
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