I made the mistake of going SHORT on Home Depot (HD) at $36.50.

I was thinking it would go down because of the worries about housing and mortgage rates. Now, it's on its way up and I shorted 650 shares on it.

Need some help from someone who understands this stock, or charting.

Do I cut my losses, or wait out the weekend and hope it drops a little?

In my humble opinion when the market is breaking out to more bullish territory... as it did today... holding short positions may not be a good idea. HD particularly may do some more harm on good days... At least its not a highly volatile stock like a solar stock that can go up 5 bucks at a time. ANYway good luck.

Bail out now!!!

my opion is hold it for a few more days..

you better get out with  a stop befor the market opens  this stock is going higher  just announced huge stock buy back

I think that home depot is gonna take a short dive in price since it just spiked a little ... but, it will be short-lived and will then continue to climb ... there's no bad news on HD and now that they have sold off some assets they have more liquidity and would be more attractive for investors - which will continue to push the price up ... watch it at the start of the week and when you see it go down to a 'reasonable' loss amount then get out ... if you keep holding on to it then you'll possibly miss the next bottom and it will keep going up and you'll keep losing more $$ ... cut losses and move on ... might be a good time to get out of the short position and buy some of the stock since it's likely going to continue its upward trend  ... of course, hindsight will be much more telling of if you got out at the right time ... good luck with it ... if it were me ... i'd just accept the loss, dump it and look for another stock pick ... but that's me.

Well, I got busy with my real job and forgot about HD. Turned out to be a good thing, since the stock took a tumble today, thank goodness, so I took a small loss and COVERed the shares. Phew! I promptly turned around and set a BUY limit at $36.50, LOL.

Now, if I can only get out of my FWLT stock then I'll be really happy.

I would say you got lucky with HD comin down so much today. Am happy for you. If FWLT goes nearer its 52 week high... the risks are RED.... so be careful. I have learnt the hard way- shorting can be very painful... ! In a fictitious portfolio does not matter... but it will certainly make you learn the risks- what not to do- so you dont get into such a situation again. Imagine the market turns around... big time... unless you have a hedge- like a lot of long positions that do good with the market- or unless you cut your `short' losses- its dangerous.

In real accounts if I short a position I would buy cheap call options... to hedge the position.

RIght now I would like to short NILE... the online diamond seller... its unbelievable how high its traded- have watched it all the way from 40 to 85... but dont have the guts to do it in the face of the momentum. Any thoughts.

Headed to 35 before it turns back up, thats my read from charts. 35.-35.20 buy area.

Bail out you're going to die

Or go broke!

   You should be making good money if you still have that HD short today.

Hope you did not bail out