Short 1,000 BIDU @ $259

I shorted 1,000 BIDU at $258.75, it took a couple minutes because of pre-hours, but I am feeling pretty good about this one. I just wanted to get something up early for people that was this blog like a play-by-play. I’ll play a loose stop, probably risking up to $5k on this deal.

The market isn’t looking upward right now and I’m pretty sure that the financials will help take the market down today.

Citigroup is reported by the FDIC as buying Wachovia’s “banking operations”.

There’s a lot of pressure on the market and I just believe that shorts will do better today than longs.

Let’s see if I’m right.

Short 1,000 BIDU @ $258.75

Good luck longs, shorts, and watchers.

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Posted: September 29, 2008 at 6:17 am

Posted By: Michael

News Category: BIDU

 

 

2 Responses to “Short 1,000 BIDU @ $259”

  1. You are doing great. Never make a trade ‘just’ to put something up on your blog. Trade first , blog later. You are making money, and that is the best part.

    Squid on 30 Sep 2008 at 3:08 am

  2. Squid! Thanks for that input. I learned that I needed to trade first and worry about the blogging second. Still, I try to blog as soon as I make a trade but learned to later fill in the little bit of info that might go along with whatever I did.

    Thanks for reading!

    Michael on 30 Sep 2008 at 6:09 am
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