There has been a 35% decrease in $SMSI short interest reported during the final 2 weeks of 2011. 1.1 million shares were covered during this time to bring the value as of Dec. 30th to 2.1 million. This leads us to the obvious question, “Why were short sellers leaving the trade during a time in which tax loss selling is more the norm?”
long 1,000 shares $SMSI at $1.51 due to a key selection of their technology by Sprint
We sold our position in $SMSI today based on perceived market weakness and then re-entered the same number of shares at a slightly lower price.
($330 profit on $SMSI trade long 5,000 shares $1.08 to $1.15 minus $20 commish)
(re-purchased 5,000 shares at $1.13)
Traded $VHC short based on confusion surrounding their patent situation. The stock had made a sharp 20% move within just one hour with both 1 and 3min MACD signals starting to roll over. Risk/Reward was favorable but, the trade didn’t come together as planned.
($35 loss on $VHC trade short $24.72 to $24.82 minus $20 commish)