Performance Review On POSH (PACC)
Shorted Price: $1.13 on 22nd July 2014 (refer to my sell call here)
Target price: $0.86
Buy-Back Price: $0.890 Today
Profit / Loss (after deducting Comm and Script borrowing cost): 25.47% over the tenure of 9 weeks
Comment:
I have covered all my short position on POSH (PACC).
My buy-back price of $0.89 is near my target price of $0.86. Although I could have waited it to reach my Target price before closing, 3 cents is negligible and the additional higher script borrowing cost might not be worthwhile. Meanwhile the marine industry has started to show sign of recovery, it is safer to cover any short position now to avoid any head wind.
Overall profit of 25.47% is good considering it was made over a mere tenure of 9 weeks.
Cheers.
Will you long at $0.86?
ReplyDeletePersonally, I won't.
ReplyDeleteEven if marine industry is going to recover, there are still other better option than POSH.