I Had a Short Squeeze First Time in My Life
Wonder what is short squeeze? I just had one and made the most laughable mistake in my entire trading life. Yesterday I shorted 2000 
shares of (CCO) Clear Channel Outdoor Holdings at $5.62 after it jump 56%. $5.62 was close to yesterday’s height but I covered it this morning close to today’s height at $5.87. What a stupid decision. Now CCO is trading at $5.09. A typical short squeeze.
Bank of the Ozarks another issue I bought yesterday is going against me droped another 2.5% after dropping 6% yesterday. But I feel much easier to hold on to a long position so I am going to keep it there. Still think it is a bank that is much healthier than its bigger peers. Let me know if you have different thoughts
Big loss again today dropping $1,150 at the momment. My account balance is falling off the cliff
At market close
Account Balance Change: -$689.99
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Hi, CCO is not a short squeeze, check the TIVO 2 day chart and you’ll see what a squeeze looks like. IMHO I see that you are not sticking to your .5% a day philosophy, you are trying to go for the fences now. buying too much of any position at once, you should avg your entry don’t go all in at once, I like what you were doing with the BAC trades before keep them small keep them safe.
If you get back to break even on orzk get out is not very safe, we are almost at the top of this rally and banks are overprice we could still go up another 80 points on s&p so be careful.
use stops on all your trades, preserve your capital by all means. bidu could go much higher be careful.
Thanks for the tips, epena!
My advise is stay away from low volume stocks cause market makers will eat you alive.
I feel the same.
hey, there goes your ozrk, I like the turn around. GL
possible inverted head and shoulder on bidu, if it goes above 285.5. it will definetelly run to 300+. 3 day 5 mins chart.
You are brave to short a stock. I am really scared of shorting stocks. Generally, only few shorters make money shorting stocks.
I used to do a lot of short selling on BAC and WFC win some and lost some