Agree. I'm sitting right through next week and likely won't start buying again until the tides turn. I've bought and sold a few different positions here the past week. Made a few bucks and have a lower average as a result. I'm at a 23.20 avg and about half way in to a max position here.
That said, can't get to cranked up about one day. Especially one at the end of a quarter and when the fed speaks. I won't make a move until the smoke clears... Maybe this time next week. Selling at this level after the day we saw doesn't compute.
Ultra shorts are like decaying options Find a way to straddle the position till the pullback happens. SO if you have the same number of shares short or puts then
You can get rid of the straddle position when appropriate.
these ultra shorts usually go to single digits then they do reverse splits
WHen you get your money back never trade this again.
I call this a crime scene stock. False bounce then another low again
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