Seagate I also hope you will continue your educational posts(for me). This is my first posting and I just signed up just to encourage you. Also I am intiigued by your qlgc short. You obviously feel it will go lower than $31. I smell a slight change of sentiment in the markets, is it just me. I somehow feel shorting is going to need a lot more attentiveness soon in order not to get stuck.
Trading Journal - July
- Thread starter Seanote
- Start date
Seanote are you still holding QLGC and those other shorts?! I can't bring myself to believe you'd give 5 sticks or so (25K?) in profit! In fact you aren't even but in fact you are now down in QLGC, aren't you? You stated this thread is educational so please explain to me this QLGC trade rationale of yours. Why didn't you lock in profit ages ago and look for another re-short? 
Originally posted by FasterPussycat
Seanote are you still holding QLGC and those other shorts?! I can't bring myself to believe you'd give 5 sticks or so (25K?) in profit! In fact you aren't even but in fact you are now down in QLGC, aren't you? You stated this thread is educational so please explain to me this QLGC trade rationale of yours. Why didn't you lock in profit ages ago and look for another re-short?
Hmmm, no reply - makes one wonder...
Originally posted by FasterPussycat
You stated this thread is educational so please explain to me this QLGC trade rationale of yours. Why didn't you lock in profit ages ago and look for another re-short?
come on, guys - Seanote was good enough to expend a lot of time/effort here, and it was much appreciated, but he doesn't owe any of us an explanation....
madison, he turned into a cowboy.
dg, i'm coming back. stay tuned to see just how one cool cat pulls major caaachingo out the market. "coming to a bulletin board near you soon!"
Hello All -
I been in South America for the last 2 weeks. I am still holding AOL, QLGC, TYC and NVDA. I plan on scaling out of my TYC long when I get close to even. It was a bad call.
My QLGC short was intended for a massive decline which I think is inevitable yet. Granted I was up 5 points and usually would have place a protective stop immediately, but that is not my strategy with this one. I stated awhile back that this stock, IMO, will hit the low 20's once the second leg of this bear market takes control and sets new lows. I am viewing these holds as LONG TERM swing trades. We're all used to intraday or short term swing trading mentalities which makes it hard for some to understand giving up 5 sticks on a 5K position. I obviously didn't expect QLGC to rally as quick as it did. In all honesty, I was away from computer and any means of communication for 2 days and I knowingly took that risk with my open positions, which were only a few. This market is going to set new lows, period. The PMs I received for not closing my QLGC short and some of the comments were quite amusing and entertaining. I'll be sure to save those when I cover around $24 and send a freindly reminder why I stuck to my guns. I still like AOL short as well. I admit, TYC was a bad call but I think I can squeeze out a break even in the coming weeks. I haven't changed my view on NVDA long term either and will most likely buy long term puts to protect my long. I don't want to close, even in a declining market since they are a big target buy out at any time.
I been in South America for the last 2 weeks. I am still holding AOL, QLGC, TYC and NVDA. I plan on scaling out of my TYC long when I get close to even. It was a bad call.
My QLGC short was intended for a massive decline which I think is inevitable yet. Granted I was up 5 points and usually would have place a protective stop immediately, but that is not my strategy with this one. I stated awhile back that this stock, IMO, will hit the low 20's once the second leg of this bear market takes control and sets new lows. I am viewing these holds as LONG TERM swing trades. We're all used to intraday or short term swing trading mentalities which makes it hard for some to understand giving up 5 sticks on a 5K position. I obviously didn't expect QLGC to rally as quick as it did. In all honesty, I was away from computer and any means of communication for 2 days and I knowingly took that risk with my open positions, which were only a few. This market is going to set new lows, period. The PMs I received for not closing my QLGC short and some of the comments were quite amusing and entertaining. I'll be sure to save those when I cover around $24 and send a freindly reminder why I stuck to my guns. I still like AOL short as well. I admit, TYC was a bad call but I think I can squeeze out a break even in the coming weeks. I haven't changed my view on NVDA long term either and will most likely buy long term puts to protect my long. I don't want to close, even in a declining market since they are a big target buy out at any time.