Well, I think there's so much hope for Fed cut, although the revenue is under analyst estimate the stock still bouncing up. Last night, before I went to sleep I send a cover order for $45 which is pretty realistic considering it was $46 in after-hour market. I cover my position at $47.50 which I lost 1.68% including commission after one day period. I just don't want to risk the stock getting higher when the fed cut. It's not safe to hold any position at this current market situation. I wish I start shorting in January to make big bucks, but oh well, it's a learning curve.
Note: I also missed shorting VMW when they report earning yesterday. If I know they are going to report earning, I will definitely short them since there are so much expectation by investors and if they miss the analyst estimate, the stock will plunge hard which is what happened today.
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