Tuesday, November 21, 2006

Another Quick Update

Shorted Amazon (AMZN) for the third and final time at 43.23, increasing the short position by 25%. Current cost basis of the short now sits at 42.10. This means the position is currently underwater 2.8%. I'm willing to take an 8% loss or so on this trade, so, if shares manage to rally strongly to the 45.50 range, I'll go ahead and cry a bit, and take my loss.

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