Closing Trade ($FB, $NILE)

By: ispeculatornew
Date posted: 11.08.2016 (6:59 am) | Write a Comment  (0 Comments)

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nileIt is certainly fit that in what has been a tough year in terms of long & short tech stock trading, the one stock that has consistently been a good short finally ended up making me pay, and it was painful. Yesterday, as Blue Nile was in the news to release its quarterly earnings, it announced it had received and accepted an offer by a group led by Bain which was 33% over NILE’s stock value. No need to tell you that sent the stock way higher and crushed my FB-NILE trade:

 

nile_chart

As of today, that trade stands at -52.14% and will be closed on the opening today. As is always the case, you can see this year (and past years) long & short trades here:

http://www.intelligentspeculator.net/livetrades

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