I am playing the lottery tonight

By Brett Goldstein on Feb 27, 2007

WOW, WOW, WOW

Today`s action was wild but turned out to be a good day for me. If you will scroll a few post back, i predicted a correction at the end of February. I prepared for this correction by liquidating and piled into ICE for a short. Good thing I did. I also shorted RIM once it failed to make a new high. I would of made more but scottrade would not work for some reason and prohibited me from covering my shorts when the market was down 500+. Well hope you guys did not loose too much on this sell off.

This entry was posted on Tuesday, February 27th, 2007 at 3:20 pm and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.

6 Responses to “I am playing the lottery tonight”

By Jon on February 27th, 2007 at 5:24 pm

Any thoughts on ALTR for a short? It looks like it has topped on the 2 year char. I had (still have) an order for some 25 stuck puts at 3.1, but it might not get back up there again.

By kevin on February 27th, 2007 at 6:09 pm

I had the same problem…I couldn’t get out of my shorts…

By Brett on February 27th, 2007 at 9:24 pm

Jon…..ALTR is hitting its 2yr resistance. But your not going to get too much action on this stock. I would look to short something else that will be more profitable. If you want to short ALTR, I would not use puts because they will probably expire worthlessly.

By Johns on February 27th, 2007 at 11:52 pm

ouch……… todays market was rough. excellent call though. nice job brett

By todd on March 24th, 2007 at 7:27 am

why do you use a ripoff place like Scottrade when you could use InteractiveBrokers.com. I don’t know what size you trade in but if you’re playing with 100 or 200 shares of volatile stocks then IB is so much better. And their platform is very dependable, rarely if ever goes down.

By Brett on March 24th, 2007 at 8:02 am

Hey todd. I was interested in making a change with my broker but i researched other one such as IB and found out that a lot of people did not like it. I was told that its orders got filled late and that it was overall not that great. I would love to get cheaper prices. Tell me more about IB. I usually make 12 trades a day with 100-200 shares.