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Thread: My first short

  1. #1
    Senior Member guywholikesdancers's Avatar
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    Default My first short

    I finally got margin privileges on my Ameritrade account. So today I shorted SCOX at 15.72. Of course, it promptly went up. Should be fun to watch over the next week or so, though; they have a very interesting court appearance to make on Friday.

  2. #2
    Senior Member witt's Avatar
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    Default Re:My first short

    Congrats. Margin can be a great thing, but just remember not only can you make money twice as fast you also can lose it twice as fast. Good Luck

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    Banned Melonie's Avatar
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    Default Re:My first short

    Personally, I prefer to deal in put options rather than shorting stocks. With put options, the largest amount of money you can lose is your original investment to buy the option (i.e. it expires worthless). However with shorting, at some point you will be forced to buy back the stock no matter what the cost. As many people found out when Krispy Kreme tripled in value in a matter of a few days, this can get VERY expensive

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    Senior Member guywholikesdancers's Avatar
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    Default Re:My first short

    >> Personally, I prefer to deal in put options rather than shorting stocks.

    Me too, but nobody's offering options on SCOX to retail investors like myself.

  5. #5
    Banned Melonie's Avatar
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    Default Re:My first short

    well best of luck. Between the Novell lawsuit and IBM touting Linux all over the media, classical theory says that this should be a very good short. However, with mutual fund managers controlling billions of dollars, classical theory has a nasty way of not actually working most of the time where tech stocks are concerned.

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    Senior Member guywholikesdancers's Avatar
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    Default Re:My first short

    >> However, with mutual fund managers controlling billions of dollars, classical
    >> theory has a nasty way of not actually working most of the time where tech
    >> stocks are concerned.

    Yeah, I think it was Keynes who said, "the market can remain irrational longer than you can remain solvent."


  7. #7
    Senior Member guywholikesdancers's Avatar
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    Default Re:My first short

    Check the 5-day on this puppy:

    http://finance.yahoo.com/q/bc?s=SCOX&t=5d

    Is that a thing of beauty or what?

  8. #8
    Senior Member guywholikesdancers's Avatar
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    Default Re:My first short

    My 15.72 short closed at 8.99 today. I figure I'll cover in 3 months at 2 dollars.

    Wish they all turned out like this one.

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    Banned Melonie's Avatar
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    Default Re:My first short

    We have a weiner, folks ! Excellent job !

  10. #10
    God/dess montythegeek's Avatar
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    Default Re:My first short

    To be FRANK I would not call him a HOTDOG. Thats the WURST thing you could say. LOL

    Congrats GWLD-Ya done good. I will give you an extra dose of congrats for having the intestinal fortitude to announce the trade at the very beginning.

  11. #11
    Senior Member guywholikesdancers's Avatar
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    Default Re:My first short

    For grins go to google and enter "bastards" as the search term.

    Doesn't pay to threaten to sue google.

  12. #12
    God/dess montythegeek's Avatar
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    Default Re:My first short

    GWLD, as a person of sound financial mind, would you not find it more productive using your time to look for more great investments than looking for Google Easter Eggs. HEEHEEHEE.

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