Friday, November 14, 2008

This morning a local broker Matt Forstik lost around $7000 in an investment in the Enterra Energy Co. He had made the purchase on his iphone at lunch and short sold 25000 shares. It went down and he was making a $1000 profit upon seeing that I also short selled the stock. When i reached a $2000 profit i bought to cover and made the profit. Matt being the energy expert he is decided to hold onto it and today when he opened his portfolio he found tahat the stock he short sold had risen up by 28 cents and he had lost $7000 in profit. He has decided to hold onto the share and hope that the stock will fall a great deal and he may be able to turn a profit out of it. Well lets all hope it falls because Matt will need the money since he works for a company that is going under