Short Visa in a Down Market? Not a Good Idea

Calendar May 6, 2008 | Posted by Jorge

Took a short position with puts on Visa around the open with a stop at the high of $86.05. So far, VIsa’s holding up extremely well in what looks to be a rough day for the markets with the Dow down about 90 points. More than likely I’ll be stopped out of the position for a loss but we’ll see. I’ll update as the day goes on.

Update: As I figured, never short Visa.  Ever.  Out with a loss after commissions of $22.50.

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