We officially closed the DISH trade, but I personally still have mine open. So if your DISH trade is open, know that I’m in there with you. Chuck and I thought we were seeing a short squeeze, and there could still be speculation that it could be a takeover target. So, while he was erring on the side of much caution, I decided to ride it out a few cents more. I hope this doesn’t confuse anyone. Chuck and I do not use the same broker, and he is handling the “official” trades right now.
The market is getting a little bounce here going into the lunch hour, but we are weak overall. Unemployment up, job growth down, and positive White House spin on TV this morning did not create a cheery atmosphere on Wall Street. As always, we’ll see what this afternoon brings. It’s Friday, but it doesn’t feel like a Friday. Next week will be the first full trading week of the year and I have a feeling we should all get a lot of rest this weekend!
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Yeah….I have DISH with you, Lisa. I am not sure what to do at this point. I think I will just keep the original stop loss that was given on the Watch List (35.25). We’ll see. Chart still looks weak.
I have the worst luck trying to make money on short positions. Even with a terrible tape, the one short I have (DISH) is going the other direction. Making money on short positions is difficult. Historically, the stock market goes up over time. Although swing trades are short term, it still bucks the very long term bias of the market. This seems to put “shorts” at a slightly intrinsic disadvantage to long trades.
The good news is that the two longs I told you I entered earlier this week, MON and AGU are holding up nicely today. I will tighten my trailing stop loss on these.
I just triggered the DTV short position. Wish me luck.
I always wish you great luck, Dave! I know how you feel about the shorts, but sometimes they just take more patience. I like the Ags, too, but not holding any right now.