Today was another great day for the Stockmarketdouble account. SUNE was down another 4.2% to $7.52. The timing for me could not be better to be short the market. Today, the DOW was down more than 200 points at one point before it bounced back, but still we ended down almost 140 points, no matter how you look at it, it wasn't pretty.
At one point, Sunedison (SUNE) was down nearly 8%. I have to admit, at that moment, I felt a strong urge to cover, but I did not. Although, had I covered when I felt that urge, it would have been a nice profit since I opened the short position at $8.45 and it had gone down to $7.27 at that point.
The point being is that, it is important for me to stick my plan because if I start to break my own rules, than there are no rules.
See the update below:
Update for Monday, June 24, 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: $15,931.00
Return: 59%
Annualized Return: 321%
At one point, Sunedison (SUNE) was down nearly 8%. I have to admit, at that moment, I felt a strong urge to cover, but I did not. Although, had I covered when I felt that urge, it would have been a nice profit since I opened the short position at $8.45 and it had gone down to $7.27 at that point.
The point being is that, it is important for me to stick my plan because if I start to break my own rules, than there are no rules.
See the update below:
Update for Monday, June 24, 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: $15,931.00
Return: 59%
Annualized Return: 321%
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