Buying back a couple of shorts I put on last Tuesday.
Carmax (KMX) I'd sold at $19.02, I just bought it back at $17.25, that's a 9.3% drop in 1 week. Profit $885.
Staples (SPLS) I'd sold at $21.86, I just bought it back at $20.16, that's a 7.8% drop in 1 week. Profit $1,700.
Whilst I'm still negative on both of these stocks (a second-hand car dealer and a business supplies seller are NOT going to perform in a downturn), I might as well take profits when I can. If these things rally back 10% or so I'll look to re-enter.
Yours,
2and20
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