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Re: my evil twin post# 36643

Monday, 09/27/2010 11:11:04 AM

Monday, September 27, 2010 11:11:04 AM

Post# of 60937
@eviltwin
I didn't post Sunday. I posted during pre-market this morning as a reply to an email I got (but couldn't do private responses w/o a subscription).

You reserve shorts at a certain price (typically the market price or above) before the opening bell and then you can execute up to that many if you chose during the day. The amount you chose as the reserve price when you reserve the short dictates how much advantage of the situation you can take. As far as I know, it's either wildly dangerous or not possible to naked-short a pinksheet. Either way, it's riskier on such a low float, because you can lose your reserved shares if you guess wrong, and then you can be forced to cover if it's going up (learned that one the hard way last year, lol).

There's a reserved set of sells that went through at 9:42am. Mine was in there.
I don't want to further piss people off here...this is clearly a very long-heavy forum. I pissed people off in TSTR when I got out before the Thursday evening collapse, then predicted the morning bounce and massive selloff (when everyone's long and it's going up, everyone's a good friend...when I say to take 10% on the morning bounce and then short, everyone hates me when it comes true...even though that stock should go way up in the long run). I got a lot of angry replies on Friday blaming me for the loss, lol.

So far, it looks like all of today's shorts had the same idea I did -- make sure the morning didn't open strong, and then cover in the 10's and 11's.

There's just not nearly enough volume on this one to make any money. :-/ I wish Apple or Google or Citigroup or GS could triple in 2 days and then collapse. :)

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