Amidst The Rally, More Shorts Emerge
January 6th, 2006 by BWV
I almost can’t believe that I’m advertising my short positions when the market is rocking like it is now. Still, the market isn’t a monolitic beast and everything doesn’t go up or down together.
I covered the MRGE short today, thinking it was toast.. took about a 50 cent profit and thought it was ripe for a reversal. That still could be true, but when it broke $24 I simply had to re-short it. 1.5x the previous size. A close down here spells real trouble for these guys.
Though still heavily long, I have liquidated a few positions. One was this TRLG that I picked up on Wednesday in the 16.65 area. Out today at an average price of 20.10. (this chart is from yesterday, I meant to post it then)
I’d love a big 2-3 point pullback so this thing could set up again.
Short MRGE
