Titanium Metals Corp. (TIE)
What a day – definitely a day to go short. Trying to go long today would be like trying to use kung fu to stop a moving train.
It was clear pretty early on that Energy and Materials were the weakest sectors, so I was looking to short TIE. It provided a good opportunity just after 11AM.
I was way ahead of this one and I tried to short it below the bid. But a few seconds pass and a few orders and suddenly the bid becomes the ask and the bid drops without my order being filled. I hate shorting NYSE – Nasdaq orders happen instantly. I guess it just takes more finesse. Luckily I was able to get a few other shorts today with USG and JLG.
