Comments on Fund My Mutual Fund: Gaming Stocks Absolutely Destroyed Yesterday

I'm more of a fat pitch guy, and not very good at ...

2008-07-11T12:22:00.000-04:00

I'm more of a fat pitch guy, and not very good at that intraday shorting or stuff like that. I like the easy stuff - I told BD on his blog LVS was a short a few months ago (he was long and made money in a quick daytrade or swing trade - lucky dog)

I'd probably have covered a week ago fearful of a bounce against me. But mid 70s to mid 40s is more my trade. From here on out people are simply pressing their bets and yes there is money to be made, but its not where I excel. As long as you have that trailing stop you can do anything, but as I often write I try to take the middle of the trades and let others work the extremes where risk/rewards are higher I suppose. Just a stylistic difference and people make money in many different ways. The plus for you is usually the biggest move is at the tail end of a drop or rise (and then comes the reversal)

funny stuff here. was just talking with a friend ...

2008-07-11T11:59:00.000-04:00

funny stuff here. was just talking with a friend how we wanted to short WYNN but it had been pummeled recently and so to stay disciplined we had to wait for a pop. literally a few days later we get the 15% surge after hours on the buyback/earnings pre announce. that was a gift to short into.

shorted at the open and wynn is giving nearly all of that 15% back. i really do think that steve and his team were trying to save their stock/screw shorts over here... i mean why else come out right this second with that info.

agreed though that the bounce is veeeery concerning. tight trailing stop on this for sure and actually looking forward to a much bigger bounce to short into.

thoughts on shorting wynn vs lvs considering wynn is technically 'higher end'? risk/reward in lvs didnt intrigue me simply because its really rolled over and tanked so much already.