Friday, June 22, 2007

Short Squeeze Part Two- SMSI



Lady luck has truly shown down on me lately, as I've trashed the shorts 2 days in a row, experiencing ~20% gains during each move. Just a few minutes ago I sold half my position in SMSI- 500 @ $14.84. Due to this success, the account will likely close at a new YTD high.

In other news, I again sold ALTR, 500 @ $22.76

I am beginning to not trust this market, hence I'm still sitting on nearly ~40% cash.

Finally, can anyone tell me why HANS gapped down this morning and continues to sell-off throughout the day? Was gaining compliance a "sell the news" event? If so, where's my memo?

***Update*** Sold off the 500 shares of SMSI @ 14.6325. I'm going home. I plan on getting a post or two up this weekend.

6 comments:

Danny said...

re HANS: moved a lot the last week, cookie-cutter pullback. Wanna get technical? It's way above even the 10 day. Miles above the 20 day.

Put HANS in a part of your brain that is protected by titanium walls from ticktarding, you will be happy in a years time. S

Woodshedder said...

Ahhhh... the ticktard. I remember I coined that phrase, and now it comes home to roost. Good advice, thanks!

And you are absolutely right about the HANS technicals. However, it seems to be something more. Just a feeling.

Danny said...

could be, but I bet a mastadon's fossilized scrote HANS won't break 42.

Brent said...

Wood,
Insiders are free to sell shares next week after 10Q was released and they regained compliance. This is leaking. I am sure it will be short lived.

Dinosaur Trader said...

Wood,

Since you're a grammar freak over at the Fly, I figured I would point out that "shown down" should be "shone down".

-DT

p.s. nice trade :)

Woodshedder said...

lol. Thanks DT! I should have save half for today though.