Short - SWN

Bought SWN DEC 2008 30.0000 PUT for 2.25

New short - CHRW

Shorted 50 shares of chrw at 52.93

The one that got away

In all the frenzy, I missed my short candidate. I almost bought oct put for PNRA but my order didn't go through and then, the market closed. Oh well - it was certainly some short covering out there, so I was hoping for a gap down on next trading day. It is nicely tanking in AH.

Amzn short - loss

Total loss I have got in shorting amazon is $950. I shorted amazon at 62 and 67 more than an year ago - only to see it climbing higher. I got an opportunity to cover my losses and even gain a small profit a couple of times but I was holding on amazon assuming(hoping) that it will easily hit 50. But, everytime I was wrong - and I was adamant in not accepting that I was wrong. This time, I am not going to be stubborn. I took my losses when amazon hit 72 by covering most of my position. I still have 25 stocks shorted on amazon and I will take them off as amazon slides further. This loss pretty much wipes out any profit I have made lately but I guess it was the tuition fee for learning investing.

PNRA

I am not sure why Panera Bread Company(PNRA) is trading with a P\E of 28+. It might be because there are no more stocks available to short. I don't know. But, there are so many other better companies with strong growth that are trading with a P\E less than 15. I just bought -UPAVJ Oct 50 put for $1.6. I really love the food at Panera and I have sustained some loss when I went long on this stock at $40 and bailed out. If you want to buy puts, you might want to wait until PNRA hits 55 and then take the profit as soon as you can unless you can figure out the high P\E for this stock.