Thursday, October 9, 2008

Position Update

TMA...Just like I had called it last night! Thanks to Mike (I think that's his name) from TOS who was able to locate shares for me to borrow very early this morning Pacific Standard Time during pre-market hours. Shorted 1,000 TMA at $3.30 this am. I will update later because I'm at work! Good luck guys.

Update: Trading, work, and an exam at school today made for a long and busy day. I start work very early, so my day started by calling TOS in order to reserve shares of TMA for me to borrow. I was able to reserve 1,000 shares of TMA at 530AM PST, which I thought was actually late. If I wanted to make sure I got my shares, I would have called as soon as TOS opened up at 400AM PST. My short position of 1,000 TMA at $3.30 went through as soon as the opening bell sounded! Almost every website is blocked by the information systems people at my work, but luckily Google Finance somehow gets through and I was able to keep a close eye on my position all day. I saw that the market opened green, then went very red, so I didn't want to chance another crazy spike by TMA happening near the market close, so I closed my short position early at $2.68 at 11:30AM for a profit of $606 while using up a daytrade. Two solid, stress free trades in a little over a week!

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