I have been very silent since the above post. The very next day I just lost $10k super within mins of the open bell. Devastated and perplexed were my initial thoughts, plus a hint of stupidity on my end.
When it bounced to 29c I bought another $8k and it finished down on 28c for the day. A bloodbath.
But held my nerve and thank god for today sold 15,000 at 35c for a modest profit, glad to reduce exposure. Reduced that $10k loss to $6k but still exposed.
I Just read a very interesting SMH article --------------Why the Dick Smith disaster has JB Hi-Fi worried
All I can think of now is imminent price wars. DSH is now the huge underdog with inventory already written down.
The short squeeze ended abruptly and violently. And I lost a stack. But If its turned into a day trader's pump and dump, I will also play that game to try to recoup losses.
This price war will benefit DSH much more in the Christmas period trading than JBH or Harvey who haven't been savaged anywhere near, and DSH could use this news very positively into Christmas trading.
Has become a real day traders stock overnight with shorts now in gamble territory if they are still short.
DSH Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
