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Stopped Out Short Position Santander Consumer (SC)

Lizard King stepped in brontosaurus poo yet again.

music selection:  “I’m America” — Cilver

On 10JUL2017, I opened a short position in Santander (SC) at 13.11 a share.  I had high hopes that their reckless subprime lending would result in poor financial performance.  Mr. Market disagrees with me.

I hit my 25% stop loss at yesterday’s close and I’m honoring that today.  I bought to close at 16.73.  For 380 shares, my short term capital loss comes to 1,375.

This is my second failure in the week.  Some blogs report only their gains and present a sunshine and roses view of the markets.  I feel like the readers have a right to know when things don’t go well so they develop a complete view of my approach to trading the markets.

Not all is doom and gloom however.  I will report monthly transparency tomorrow morning and look to be on pace for over 19% annualized.

Devour your prey raptors!

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