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starbucks4ever (98.68)

It pays to wait

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January 14, 2010 – Comments (4)

Today I closed my last ultrashort entered before the great crash of 2008. It was SH and I closed it for a 5.4% profit. I am not very good at market timing, to say the least, and my timing couldn't be worse. I red-thumbed SH and a couple of dozens of other ultrashorts just before the bottom fell out and Caps informed me about my mistake by sending my score below negative 2000. Fast-forward to January 2010. All of these trades are now closed at a profit. So, what's the moral of this story? All crap eventually sinks, even though the process may seem painfully long.

4 Comments – Post Your Own

#1) On January 14, 2010 at 5:40 PM, brickcityman (< 20) wrote:

Thats interesting...

 

So does that mean you think that SH is bound to go up now?  Afterall wouldn't you want to keep your red thumb open if you though the trend would continue?

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#2) On January 14, 2010 at 5:47 PM, starbucks4ever (98.68) wrote:

Yes, I do mean to red-thumb it again. Today was an up day, so I'll wait a couple of days. 

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#3) On January 14, 2010 at 10:46 PM, streetflame (30.50) wrote:

SH is not an ultra though.

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#4) On January 15, 2010 at 12:42 AM, starbucks4ever (98.68) wrote:

The ultras collapsed even faster. SH help up better through this rally but ultimately even SH could not withstand the bull market.

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