I took a $10,000 position into SQQQ bear etf! ‘The Big Short’ investor Michael Burry says Tesla stock could plunge 90% – and notes Elon Musk said it was overpriced at $160 last year. Here are simple steps I took to short $100,000 worth of tesla stock! I break down my trade plan completely for beginners (free course).
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Why short stocks?
The real reason to short stocks is in order to make money to buy more stocks in the future. The same way one can form a view that some stocks will go up, so to should one be able to take the view that they’ll go down. As many Monday morning quarterbacks like to point out, the losses on shorting a stock that goes up can be greater than the gains on shorting a stock that go down. This means to reap the benefits of shorting stocks, you have to:1) take losses before they kill you,
2) short only small position sizes, and
3) short a basket of a large number of stocks.