my first short attempt GNLB...seeking opinions

[nycgrip]

GNLB...spiked 200+% on news of deal to high it hasnt seen in two months. its at 2.30 with after hours at 2.44. i set a sell short order at 2.30 to catch it on the way down. motley fool rates it top ten worst stock

http://www.fool.com/news/commentary/2006/commentary06060504.htm?source=eptyholnk303100&logvisit=y&npu=y

and idb rates it an E. i only went in for 100 shares, but opinions would be appreciated.

[nycgrip]

added 3 short orders for 200 shares each at 2.20, 2.10, and 2.:eek:

[nycgrip]

also have EBOF.OB 500@2.62 long from yesterday, and hoping to get SLS 1000@0.95 long today. opinions.

[nycgrip]

for GNLB i set 3 triggers to buy to cover 200sh@$1.5, 400sh@$1.25, and 200sh@$1.

[nycgrip]

adjusted my positions to sell short 200@2.30, 200@2.20 and 400@2.10.
triggers for cover are 200@1.5, 400@1.35, and 200@1.25.

[Mad Girl Investor]

I didnt know you could short stocks under $5?

At least on Amertrade you cant.

Good luck..I think GNLB is a tad bit dangerours...think its gonna pull back a bit, but not tank.

[Pierre]

Geez... stock is up 200% in 7 hours, how many times have we seen that happen, I'd personally wait for things to settle down a bit... but that's just me & my style, seems like quite a complex set-up, if you can actually execute through yer broker... Good luck Guy, I'm interested in seeing how it plays out for you...

[TheChartGuru]

GNLB...spiked 200+% on news of deal to high it hasnt seen in two months. its at 2.30 with after hours at 2.44. i set a sell short order at 2.30 to catch it on the way down. motley fool rates it top ten worst stock

http://www.fool.com/news/commentary/2006/commentary06060504.htm?source=eptyholnk303100&logvisit=y&npu=y

and idb rates it an E. i only went in for 100 shares, but opinions would be appreciated.


Hard to say which way GNLB will go today. After a 200% gain yesterday it is logical to assume that the stock will pull back. But the market is irrational and illogical. It may actually gap up and run some more. The best thing to do is to watch it on a 3-minute chart and wait for NEGATIVE divergence on your oscillators and watch the candlesticks. My bet is that it will gap up and reverse the uptrend around the 10-11am reversal periods. Good luck to you. Hope you made money going up and comming down

The Guru has spoken

[nycgrip]

hey guess what...mgi is right couldnt get the stock. oh well nice try for me.