Going for the Brass Ring

All in all, the market gave back most of what it gained yesterday, about 2%.

Thankfully, this loss does not even begin to touch the gains I’ve had on the long side of the trades recently. Although I gave up about 8% today on the low-priced Optimal Alpha stocks, I’m still up 25.2% in less than two weeks.

Yes, I probably should have taken the profits today and walked away with a 30% gain, but instead, I intend to press the issue and hold on for bigger gains as long as I’m ahead. Truth be known, most outrageously successful years in the market will come from a handful of trades that will have huge gains in proportion to the rest of your trades. Therefore, while I’m ahead, I will press the matter at hand and go for the brass ring, since Mr. Market is bootstrapping my success right now anyway. Worst case scenario, I will sell out the stocks, netting a 10% gain in less than a month. I can live with that.

Going into this weekend, rest assured that I will take my chances on next week, rolling the dice, and praying for a merciful markup going into the ISM numbers on Wednesday. If it all works out in the end, I’ll have another brass ring.

Enjoy your weekend.