Overall, it’s been an outstanding year for my long & short stock picks but today is one of those days where I’m closing a trade that’s a losing one. On August 4th, I did the following:

–Long Priceline (PCLN) & Short Pandora (P)

PCLN data by YCharts

As you can see, things have not quite worked out. I thought the rationale of this trade seemed right (obviously) and I usually still believe that when I close losing trades. I’m changing my mind (slightly) on Pandora which I’ll surely explain a bit later on. Not saying I’m going to buy some, I’d still likely short, but I do see a way for them to do well. More on that later I guess:)

You’ll also see a post about eBay in an hour and probably wonder why I’m not closing my long $EBAY trade. Unfortunately, there is a lot of volatility on the name, given the rumours and Apple news so for now I’ll sit tight but might close it out later this week.