As usual, I shorted waaaaaay too early pre-market at $11.80, but as those of you tracking my trades on Covestor know, I just doubled up (don’t try this at home kids–I’m just incredibly bored at the moment not being able to day trade freely and will probably fund my account to get over $25k so I really have nothing to lose here) by shorting 1,000 COINW at $4.393.
This should be it for COIN’s run for the time being, as those of you who’ve bought my DVD know, this is the beginning of the end for the supernova chart pattern, stock’s at $12.30 now, let’s see how far down we can go!
UPDATE: Covered my 1,000 shares of COINW at $3.88 for a massive $500 gain within a half hour, damn, wish they could all be that easy (oh wait they could be, if somebody would just take a hammer to the greedy Jew part of me that overtake the patient side who wants to wait for afternoon fades EXACTLY like this). I think think it’s got further downside, but since COINW basically plays off COIN, I had 60%+ of my portfolio in these COIN plays, which no matter how bored I am is unacceptable. I’m still holding my 400 shares short in the original COIN, ideally overnight.
We’ve all learned another valuable lesson here–wait until the perfect sideways price action cracks before shorting!
Posted in So Hot Right Now