Wednesday, January 27, 2010
Finish the story about "!'m 38 bid and ask for 100, What do you want to do?" I didn't finish the story because I was only interested in my own punchline about managing the trade. However, looks like I was wrong. The rest of the story was quite relevant. I sold 10 lots. Most locals like to go short rather than go long as you make your profit quicker. I covered my 10 at 35. The Big Local bought at 35 along with me (or was it really me buying along with him) as a BUY order came in from a broker who we knew filled for one of the funds. He sold his back at 39. We BOTH made money taking opposite positions. TRADE MANAGEMENT
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