Thread: Is Any One Else Short Selling???

Friday was an ugly day for me, but not nearly as bad as it could have been. The market started out in the plus range, but I was showing a small profit at the start. I entered three new positions this morning:

• ITW -- Shorted at $29.19 with a limit of $28.46
• PLL -- Shorted at $22.50 with a limit of $21.67
• LLY -- Shorted at $29.91 with a limit of $29.31

So, you can see that the morning price increases helped me on the Short Sales, with an average 2.8% premium in sales price over limit price.

Then, the market turned sour. Prices tanked, with a couple crossing the 15% range. I only got to close on one though:

• VRSN -- Shorted on 10/24 for $19.77 -- closed at $16.29 for a 17.6% gain in about a month

Right after this trade triggered, the market started back on it's way higher. The DOW ended up increasing nearly 500 points for the day, which only got it back to about a day ago.

As I had mentioned in an earlier post, when the market goes up, and I'm short, I gain more room in my Risk Pool. Today's move permitted me 3 more orders for Monday:

• SYY -- Short with a limit of $21.78
• ITT -- Short with a limit of $37.04
• HSP -- Short with a limit of $26.64

Overall, my account value decreased by 3.34%. This sounds pretty good compared to the Dow's 5.18% increase. The sad thing is that, at one point today, I was in the "green" on all my positions. By the end of the day, half of them had retreated to the "red".