My profits from my HUSA trade (here & here) last week are being undone!
HUSA really did sell off hard, it reached $1.50 this week. The dramatic sell down helped by the CEO getting margin called. This represented 1% of common stock, so it was certainly material. But now the the stock is at $2.50! Its up 40% on the day with big vol, and looks like it could go para into the close.
I shorted the morning spike, thinking it would fade through the day. The position was small just in case something like this would happen. I broke a rule though, I should only be shorting para like moves when stocks run on no news.
I will only ad on para or a gap up tomorrow.
Open Trades Short
VRML, MBLTY, GTIM, HUSA
Open Trades Long
UNIS, CLDX, HZNP, ALXA, SVVC
April Returns, -3.5%