First off I want everyone to learn something from this trade. When you have big gains in short positions, never cover ALL of your short until it closes above the 50 day moving average on HUGE volume or closes above the 200 day moving average. To have a big gain and cover your full short because you are afraid to lose some of your gains is silly when using this methodology. However, since I thought this bear would be short (INITIALLY) I covered at the first sign of a close above the 50 day moving average. That has cost me a 97% return in a little over a year. So now is it not only a HUGE gain on the short side but it is a long-term cap gains. So my full cover back in mid-May seems stupid now. Still from the short signal in my “high-priced stocks breaking down” scan to the low in April, LVS gained 42% in a little over five months. It wasn’t a great short for me but still produced very large gains. Too bad I didn’t follow my own rules. However, as you will see when I close out my current shorts, I have learned from my early mistakes this year.
the low of the move: