On Thursday just before the close (the red ellipse) I decided to give going short a try just to see how it is to hold an overnight short position and how the Fidelity website handles it. Continued putting on a short position on Friday morning up to 4k shares because it seemed like the liquidity on the buy side that I could see on the book was weak and fragile, plus the momentum seemed to be on my side. Unfortunately it seems that there turned out to be a pretty solid support level there and the liquidity quickly firmed up, so I ended up having to cut my losses for a $1k loss. Live and learn I suppose; giving $1k back after $20k profits is acceptable but it does seem that I need to be more careful. Since I haven't had any successes making money going short so far, I'll limit my short positions to less than 1k shares until I have a better idea of what I'm doing. When I go long, things are much easier because it matches my fundamentals based long disposition, and I've consistently made money that way.
