SLB: Selling Half +26% in 3 Weeks
We're selling half our recently-purchased position in SLB for a gain of 26% in three weeks.
We'll now place a stop loss sell order at $40.48 on the remaining half, and will raise this considerably if the stock continues higher in the next week or few.
Normally we don't bother with half positions, but since we don't expect the general market rally to last in this case it seems prudent to book at least some of the big move we've already enjoyed so far.
Our double-short in Tesla is crashing nicely today, down 12% on news that should come as no surprise to our regular readers, however it's just a small step in the right direction in what should prove to be a long and highly entertaining journey to far lower share prices.
Tesla stock remains a generational shorting opportunity in our view, and its products should be totally avoided.
As planned, we've been slowly re-accumulating short positions that we'd recently sold for significant short-term gains late last year.
The most recent update on our short positions and repurchase levels remains here.
We'll now place a stop loss sell order at $40.48 on the remaining half, and will raise this considerably if the stock continues higher in the next week or few.
Normally we don't bother with half positions, but since we don't expect the general market rally to last in this case it seems prudent to book at least some of the big move we've already enjoyed so far.
Our double-short in Tesla is crashing nicely today, down 12% on news that should come as no surprise to our regular readers, however it's just a small step in the right direction in what should prove to be a long and highly entertaining journey to far lower share prices.
Tesla stock remains a generational shorting opportunity in our view, and its products should be totally avoided.
As planned, we've been slowly re-accumulating short positions that we'd recently sold for significant short-term gains late last year.
The most recent update on our short positions and repurchase levels remains here.
posted by C. Guinness @ 1:56 PM
<< Home