So I thought I shorted FONR this morning. I got in a little late, it doubled on some news last night, but still thought that it would make a good short at 3.90 and so I placed the order on Schwab for 250 shares. I also placed a buy order at the same time at 3.66 as I was heading out for a bit and while I thought it would drop lower than this wanted to make sure that if it hit this target while I was out that the order went through.
So anyways I get back after being gone for an hour or so and check in and low and behold the short sell on Schwab didn't go through, it got canceled for some reason (though I swear it said it was filled this morning and I am going through trying to see if I can find confirmation of it). However my buy order at 3.66 which was supposed to cover the short sell did go through and the stock promptly dropped another 0.15 prior to me selling it. Now I probably should have gone ahead and shorted more to cover my initial screwup as it is still heading down but I figured I would just let this lesson sink in a bit.
Reminder to self: measure twice cut once or always verify the trade went through.
UPDATE: I should have shorted more as I stated above and my stupid mistake would have been wiped out, as I write this FONR has fallen to 3.25 thus another 0.30 from when I had to sell. That 0.30 would have more than made up for the commissions and the bone head move. Oh well maybe next time.
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