I Can Find the Stocks, I Just Can't Hold the Stocks

I'm pretty disgusted with the fact that I couldn't hang on to (or that I just plain missed) some of the shorts I've had on my watchlists over the last week or so. Here's what some of them have done with out me :-(

  • SLAB down 11.5%
  • AUO down 8.3%
  • CYMI down 9%
  • FFIV down 4.2%
  • GTK down 16.1%
  • ICOS down 1.8%
  • NTES down 12.3%
  • NYB down 1.5%
  • PDLI down 1.6%
  • QLTI down 7.2%
  • ROIAK down 3.5%
  • SYMC down 4.1%
  • WEBX down 7.5%
  • COCO down 4.2%
  • ISSX down 9.5%

Those percentages are just the change since they first made my list, some would be greater because they rose a bit since they initially made the list and thus the entry would have been higher. I guess I shouldn't be too upset since I did everything 'by the book' (I followed my rules). The few shorts that I did take I got stopped out of because I rolled down my stops to protect my then tiny profits. Given how the market kept acting like it wanted to go higher last week I think I did the right thing by tightening up my stops. Nonetheless, I've got to do better at holding on to some of these.

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Quoted

"There should always be respect for the person on the other side of the trade. Always ask yourself: Why does he want to sell? What does he know that I don't?" ~ Michael Steinhardt
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This page contains a single entry by Michael published on July 6, 2004 7:40 PM.

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