+$120 on the trade.
+$100 from referrals on Aynul and Alex to TOS.
I'm going to count the referral funds as my own to bring my new yield on my account to:
+14.84%
I left alot of money on the table with this one. I was short. Chart was simply too easy to read. If you want an example of a purely downward headed chart, view C at 11AM. I got out after I made pinch on this trade, but If I had turned CNBC as I have on now, I would have realized that i was covering too soon.
They even said "buy on rumor, sell on news"... lmaonade.
Wow, I shorted C at 3.77 out at 3.67.... Right now its 3.47!
Its only 11:39. But this will be a hugely talked about today. Market hasn't reacted this violently in a while. Shows the fear that exists out there.
Today is a great day for shorting. I wasn't even supposed to trade this week, but when I see such an easy C chart, I'm glad I got in for a bit of profit off this mess. I called C a short since yesterday as it did a sideways all day around 4.00, but I would not have called this. This is just awful for the market.
now at 11:44, there is finally an end to this selloff.
In terms of where all of this trading is going, I had a good conversation with Prof. Vaidyanathan, about risk, leverage and where I think this crisis could spread: the retail sector. She warned me about greed, but pointed out that risk is a function of age, and I know I'm being risky with my position sizes and pennystocks in general. But i'm not trading a retirement account, this is mostly for learning but also because I really enjoy it.
Also, it seems like both, Credit Default Swaps(CDS) and Collatoralized Debt Obligations(CDO) are becoming common knowledge for the havoc they created. My Micro professor spend 30 minutes explaining both to my completely indifferent classmates.
WOW I left so much profit on this trade out there! Now I know I know how Aynul felt with BAC.
CNBC financial idiot just said:"We should see a reversal by July-August". These people are delusional. Do me a favor, don't be delusional.
