This has never happened to me before.
No, I’m not sitting on the edge of the bed, eyes downcast, as you stare at my back from across the sheets, wondering what just went wrong. This has to do with Fluor Corporation. Trust me.
You see, I shorted FLR one or two days ago based on the descending trendline. This morning, the stock completely collapsed, and I didn’t even realize it until half an hour into the trading day. I was sort of wondering why my spreadsheet profits number was so large, and this definitely helped.
This situation is crazy for two reasons:
- It’s very rare to short something and see it get obliterated shortly thereafter. As the saying goes, it’s better to be lucky than smart.
- It’s especially comic to have enormous profits be thrown off and not even realize it.
It goes without saying I’ve taken profit profits (but only 1/6th of the position) and have tightened up my stop considerably!
