My take on SNDK is that traders are deluding themselves. I'm talking from my own call option positition of the 30 calls for March which were profitable but I held onto half of them and they are sinking. I am not long or would I even consider going long a stock that is consistently down daily together with the other techs that bit lower and lower. At this point the SNDK chart is awful and I can't see why folks don't choose better companies (i.e. NOVL, MO) or even just daytrade these stocks instead of losing more and more money on these trades. I'm also underwater in some call options for NFLX but here again, one day burned, so I'm certainly not adding long positions on top of losers, but trying to short my way out of the loss of the calls for March. First we made 2.5 option points from 12.50 to 15 on some options before the split but then a second position is stagnating. WOuld I add more NFLX.. I would buy some NFLX ON ITS WAY up for a daytrade and sell to lessen the loss (as I have done with SNDK on a few occasions this month NEVER HOLDING THE STOCK LONG OVERNIGHT) but if NFLX were to continue down I'd just either short if I could or mark it up to a good lesson.
Adding to losing positions is a strategy that went out in 1998. Averaging down is frowned upon the trading community and although I don't read a lot of posts here (maybe a half dozen a week, there are too many plays being thrown around for me) I do notice some traders have very balanced heads on their shoulders and are shorting were applicable. I don't see unless I'm missings those threads where traders gathering long plays on the off chance the market recovers. If it recovers you'll know, buy some off the bottom, hold a tiny amount and add incrementally IF THE STOCK MOVES UP, but don't add if this moves down. My parents 30 years ago never averaged down and knew already to get out of losers! Okay there were a little ahead of their time!
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