I covered pretty much all my shorts into the big washout this morning, although I didn't get the best prices on $NADL as I would have liked. I covered about 1000 shares at 2.42 and then most of the rest in the 2.60-2.80 range. I can't believe I didn't cover all of it when I recognized there was a morning panic.
Oil stocks look like they might bounce in the next few days, which will provide a lower risk entry for putting on swing shorts. Can't wait.
$CBDS continues to run higher. The thought had crossed my mind to buy this pump a few days ago (in small size), but I missed it with everything else going on. It's going to set up to be an amazing short though, and that's a trade that can be taken with higher conviction. No shares to short at any of my brokers though... If one of you readers can get locates, then it's just a matter of sitting around and waiting for the top.
Tomorrow is a market holiday. Everyone should take this time to review their trades or go through educational material. Stay safe everyone.
Showing posts with label $NADL. Show all posts
Showing posts with label $NADL. Show all posts
Thursday, March 24, 2016
Wednesday, March 23, 2016
Updates
Not much going on lately. I've been working on not overtrading and not trying to open new day trades after 12PM EST.
I'm holding shorts in $NADL, $EPE, $REXX, and $TPLM from higher prices. Looking for a washout this week to cover some into.
I think that $EPE, $SN, $OAS, $JONE, $DNR, $ATW, $NE, are good shorts, along with pretty much any overleveraged tight oil play guaranteed to go bankrupt with low oil prices. I'll compile a full list soon.
However, I would NOT short them here, and I certainly wouldn't do it with big size. They've already been sliding off in the last few days. A better spot would be to wait for some kind of sizeable bounce to put shorts on. If you are lucky enough to have some short, you are currently in the drivers seat.
When you do put on these shorts, I would be prepared to hold them for days, weeks, possibly even months to collect that FREE money. And when I say free money, I really do mean free... zero chance a company like $NADL will make it through the next couple years without bankruptcy and restructuring.
I'm also keeping an eye on $WNDW to see if it goes parabolic in the next few days/weeks. That will set up to be a nice trade to the short side.
Stay safe out there.
I'm holding shorts in $NADL, $EPE, $REXX, and $TPLM from higher prices. Looking for a washout this week to cover some into.
I think that $EPE, $SN, $OAS, $JONE, $DNR, $ATW, $NE, are good shorts, along with pretty much any overleveraged tight oil play guaranteed to go bankrupt with low oil prices. I'll compile a full list soon.
However, I would NOT short them here, and I certainly wouldn't do it with big size. They've already been sliding off in the last few days. A better spot would be to wait for some kind of sizeable bounce to put shorts on. If you are lucky enough to have some short, you are currently in the drivers seat.
When you do put on these shorts, I would be prepared to hold them for days, weeks, possibly even months to collect that FREE money. And when I say free money, I really do mean free... zero chance a company like $NADL will make it through the next couple years without bankruptcy and restructuring.
I'm also keeping an eye on $WNDW to see if it goes parabolic in the next few days/weeks. That will set up to be a nice trade to the short side.
Stay safe out there.
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