Monday, December 21, 2009

Tim Sykes' IFNY trade, Dec 7, 2009

IFNY day chart Tim Sykes trade

This is one of those trades where one misses the intra-day data -- the scale of the trade (both time- and dollar-wise) looks lost in the chart. Judging from Tim's comments on his site, this was a short. Sold short at $1.50, bought to cover at $1.47. Nevertheless, the context in which the trade was placed is clear -- it is also clear after the fact that one should have been buying. But Tim managed to extract a bit of a profit out of this trade.

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