Folks I looked at my long positions and saw that PBR (Petroleo Brasileiro) had lossed $10 a share or about 10% of its value in the last 5 days.
This isn't right they just found 5 billion barrels of oil and oil prices are going up. I am predicting a 10% jump over the next few days. So I am in this long term (with PBR/A) and now short term with PBR. I like this company and did before they fond the 5 billion barrels of oil that sent their stock price flaring.
Well now I have three short positions to manage great. Just to recap for the novice investor short means I am betting the stock will go down and long means I am betting the stock price will go up.
My plays for this week are:
RICK - short
PBR - long
TASR - short
