Hmm.. but Zeev- if I had properly allocated on ADSP, sure it still would have been a disaster- but it would be no different then buying EXPE at 80, and then tomorrow they issue an earnings warned mixed with accounting fraud and the stock opens at $80..
When I shorted ADSP, it was a $10 stock.. Obviously moving over $60 a share in just under 1 hour was a bit insane, and something like that dosnt happen every day like you said, but it also didnt help that I had margined those shares thinking I was so certain it was total garbage and headed back to $1.00 and I would make a fortune on a sure thing.. : )
Thats the one thing you have never been able to convince me, and that is to change my mind about short selling.. I just feel that anyone playing the markets and not using that option cheats themselves out of a good chunk of the equation.. I started getting intrested in shorting about 4-5 years ago, and it taught me all the money management skills that have allowed me to navigate the tough markets over the last few years.. Most of the folks I would trade with on s/i have long been whiped out/threw in the towel, and I think in part it was because they got a free ride on the bull move up but when it came to actually having to apply skills such as allocation they had no idea what to do. When you short stocks, you either understand how to manage your account or you will be history in no time.. but if you manage your positions, the gains the market affords you can be quite significant.. Not to mention how much the understanding of the mechanics of short selling/squeezes has increased my long gains. I started using buy-stops when I watched short squeezes materialize and I would get stopped out of my shorts.. Now I put buy stops at key levels, and go for quick day trade scalps for 1/2 points at the shortsellers expense.
Funny thing- your last 2 run for the hills calls were my most profitable days trading this year.. You would be an incredible short seller but you refuse to give up your jedi ways and join the dark forces.. How great it would be to see you posting that your selling all the Q longs, and 3 minutes later you submitt a post such as: ' SS QLGC at 39, VECO at 13, AMD at 8.. expecting mosis to go back in hiding.'
I recall some time ago you mentioned that alot of it is just the way you think, and betting 'against' a stock wasnt in your nature.. That would make alot of sense so far as Im concerned because by nature I'm extremely negative.. The day I started learning to short was the day my life turned around. Im making money.. both long and short.. Shorting gave me a respect for the market I dont think I ever would have found if I just played long positions..
Hey- just for the record, the majority of my trades this year were actually on the long side.. I can be swayed either way..
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