Toss a Coin...

What will the market do tomorrow? I have to say, the market has left me speechless, with no real clear cut way to play it. Obviously I was wrong with my URBN short (at least today), and now I am heading into the rest of the week in hope mode that URBN will drop before I capitulate and cover. I hate being in this position but I did it to myself. The stock was breaking to the upside on plenty of volume and I tried to jump in front of the train. Well...A split and 5% later I am sitting on a substantial loss. But I think that to cover up here would be wrong (although if the stock rallies another 5% this will be a much better place to have covered that up there). I still maintain that URBN is a good short candidate, although today it does not prove that I know what I am talking about in the slightest. Maybe its simply hubris and the fact that I don't want to cover a short that would equate to a very large percentage loss in just a few days, but there will be a better price to get out of URBN, patience is key.

Of note: When I write on this board that I covered because I couldn't take the pain of watching the stock go higher, that will be the top in the stock, sell it short there.

I simply cant make heads or tails out of the market today. Good luck to you all.