Thursday, 17 January 2008

Covering US Steel short, 6.1% in 1 week.

Taking my profit again on US Steel (X), it's down 6.1% since I shorted it a week ago. Just paid $101.25, profit $662, having shorted it at $107.87.

Still think it's going down, but I'll keep chipping in some profits when I can. My big mistake was not selling more when it rallied after my original short, as per what I said my plan was. Shame to have left money on the table, but maybe I'll get another chance since Goldman are still bullish on the sector...for some reason.


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