Lunch at Tiffany TIF

TIF 11-30-2012

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.

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