GGC an easy short once it went negative on the day. It was quick, but a smart trader would have nailed it for $4 per share in under 20 minutes. Unfortunately, despite anticipating this and having my 2000 share short order ready at SogoElite (which had shares of GGC to short), I completely missed the trade.
See the video:
Short 2100 GGC @ 31.062 (at SogoElite)
Cover 2100 GGC @ 30.977
Other trades for the day:
SLD 200 WUHN false Stock (SCM) 4.00 USD ISLAND 09:31:17 1.00
SLD 200 WUHN false Stock (SCM) 4.00 USD ISLAND 09:31:22 1.00
SLD 200 WUHN false Stock (SCM) 4.00 USD ISLAND 09:31:29 1.00
BOT 600 WUHN false Stock (SCM) 3.84 USD ISE 11:06:20 3.00
+ SLD 2,050 SCLN false Stock (NMS) 4.200 USD ARCA 09:39:12 10.25
+ BOT 2,050 SCLN false Stock (NMS) 4.170 USD ARCA 09:40:08 10.25
Short 1300 WUHN @ 3.798 (at SogoElite)
Cover 1300 WUHN @ 3.585
+ SLD 6,000 CHINA false Stock (NMS) 2.792 USD SMART 15:41:25 30.00
+ SLD 6,000 CHINA false Stock (NMS) 2.780 USD SMART 15:41:28 30.00
+ BOT 6,000 CHINA false Stock (NMS) 2.763 USD SMART 15:42:58 30.00
+ BOT 6,000 CHINA false Stock (NMS) 2.770 USD SMART 15:43:30 30.00
Today’s profit: $703.82
Disclosure: No positions. I have a disclosure policy.
0 thoughts on “How I missed an easy $8,000 on Georgia Gulf Corp. (NYSE:GGC)”
don’t beat yourself up too much you will get it back. I watched it plummet to doom as well I was trying to find shares at ToS, but to no avail. I am switching brokers shortly due to the fact most of the stuff i see plummet to doom like GGC is not available to short at ToS. I know Tim likes them and all, but i think i will have better success with IB or Sogo. In which i have decided to go with Sogotrade for the time being as they are really good for shorts. From what i heard they had several thousand shares of WUHN while ToS had a couple thousand at most.
Sogo is really starting to annoy me with fills. I hit the ask to cover a short on WUHN and I didn’t get filled for over 15 seconds!
I completely missed the GGC short today when I got caught up in watching other things…so you’re not the only one who missed an awesome opportunity
Thanks for the video explanation! I’m relatively new to trading. Thus, I’ve stayed away from shorting. However, watching this ‘perfect short’ unfold motivated me to open a SOGO account for short selling.
I have learned a lot from ya reaper. One of the things i have learned especially from being a timalerts subscriber is if Tim was not bound have a blog and a ton of followers he would of made a lot more from his initial 12k than he has now. Kinda like with GGC if tim shorted it when it broke support it would already of been down 3 bucks before we even get the alert. So i really think he takes that into consideration when he trades. Since becoming a subscriber i have noticed he tries to buy/short before the breakout or breakdown. Kinda like with RINO,ZAGG, CHINA. Like with GGC if you shorted it when you should of 2 mins later you would have covered it for a gain and a very nice one at that.