Fortunate to be short today. As I had mentioned when I initiated this position, I felt more comfortable being short in this market then long http://www.stockmarketdouble.com/2013/06/stockmarketdouble-diary.html
Nonetheless, as for today's update, the stock I am short Sunedison (SUNE), was down nearly 5% today, going from $8.49 to $8.07. The account is now up a remarkable 43.5% since April 18. (I had to check the math twice to make sure).
Something I didn't expect from this result-is that I feel a bit anxious about having a 44% gain in 2 months and 2 days. If you've been around the markets for as long as I have (25 years)-you know these streaks don't last forever. However, I am steadfast on the shorting of SUNE. The stock price had quadrupled in the last 52 weeks and frankly was due for a pullback regardless of what the market itself was going to do. Anyway, until tomorrow-have a good evening. See all the trades below leading up to this point.
Update for Thursday, June 20, 2013:
Current position-short 1622 shares of SUNE at $8.45
Closed Trades:
5/17-short 942 shares of RDN at $13.69
6/17-covered position on RDN at $12.92 (6% gain)
4/18-shorted 262 shares of UNXL at $38.10
5/17-covered at $29.44 (29% gain)
Start Date: 4/18/13
Starting Balance: $10k
Current Balance: $14,351.00
Return: 44%
Annualized Return: 255%
SEE ALSO STOCK MARKET VOLUME LEADERS JUNE 20, 2013
http://www.stockmarketdouble.com/2013/06/stock-market-volume-leaders-june-20-2013.html
52WEEKS HIGHS FOR JUNE 20, 2013
http://www.stockmarketdouble.com/2013/06/new-52-week-highs-june-20-2013.html
Nonetheless, as for today's update, the stock I am short Sunedison (SUNE), was down nearly 5% today, going from $8.49 to $8.07. The account is now up a remarkable 43.5% since April 18. (I had to check the math twice to make sure).
Something I didn't expect from this result-is that I feel a bit anxious about having a 44% gain in 2 months and 2 days. If you've been around the markets for as long as I have (25 years)-you know these streaks don't last forever. However, I am steadfast on the shorting of SUNE. The stock price had quadrupled in the last 52 weeks and frankly was due for a pullback regardless of what the market itself was going to do. Anyway, until tomorrow-have a good evening. See all the trades below leading up to this point.
Update for Thursday, June 20, 2013:
Current position-short 1622 shares of SUNE at $8.45
Closed Trades:
5/17-short 942 shares of RDN at $13.69
6/17-covered position on RDN at $12.92 (6% gain)
4/18-shorted 262 shares of UNXL at $38.10
5/17-covered at $29.44 (29% gain)
Start Date: 4/18/13
Starting Balance: $10k
Current Balance: $14,351.00
Return: 44%
Annualized Return: 255%
SEE ALSO STOCK MARKET VOLUME LEADERS JUNE 20, 2013
http://www.stockmarketdouble.com/2013/06/stock-market-volume-leaders-june-20-2013.html
52WEEKS HIGHS FOR JUNE 20, 2013
http://www.stockmarketdouble.com/2013/06/new-52-week-highs-june-20-2013.html
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