I am shorting a stock today, TIF.
Good lesson. I was in it long with yesterday’s low as a stop assuming that was the maximum power of the BEARS, but when it broke, I took my stop, and started to short it with yesterday’s low now the stop in the other direction. Once it did not hold as support, it now becomes resistance, so a short makes sense. It is profitable now, and I will cover before the day is over.
UPDATE: Covering the TIF short for a small loss. That means I buy back the shares I borrowed to start the short at the current price which in this case is higher than my borrowed price, for a small loss.
It was a good idea, good risk management, but did not materialize. Moving on.