Small-time investors like us often get bit by the sharks.
I was working in a niche area, and our company used to keep an eye on the competition. One quarter we realized that the competition was not doing well, so just before their earnings came out, I shorted the stock.
Well, lo and behold! The stock tanked and I made a nice bundle by covering after the crash.
2 years later, again I see the same signs of a company that's not going to meet expectations. So I short again. This time, the MFers couched their quarterly report in language that hid the trouble they were in. They painted a rosy picture when we on the inside knew it wasn't going to come true. But the market bought it, and the stock rose sharply! ETrade forced me to cover my positions, and I lost all the money I had made 2 years earlier. Womp womp womp...
Of course, a few days or something later, as analysts closely analysed their earnings report, they realized that there was a lot of smoke in there and the stock tanked. But it was too late for me. From that point onwards I have stayed away from such gambling on the market.
I was working in a niche area, and our company used to keep an eye on the competition. One quarter we realized that the competition was not doing well, so just before their earnings came out, I shorted the stock.
Well, lo and behold! The stock tanked and I made a nice bundle by covering after the crash.
2 years later, again I see the same signs of a company that's not going to meet expectations. So I short again. This time, the MFers couched their quarterly report in language that hid the trouble they were in. They painted a rosy picture when we on the inside knew it wasn't going to come true. But the market bought it, and the stock rose sharply! ETrade forced me to cover my positions, and I lost all the money I had made 2 years earlier. Womp womp womp...
Of course, a few days or something later, as analysts closely analysed their earnings report, they realized that there was a lot of smoke in there and the stock tanked. But it was too late for me. From that point onwards I have stayed away from such gambling on the market.