I have decided to cut my WGO position in half at 18.79. Just last night I commented on how much I liked the pattern that this most recent pullback was scratching out. To hedge my confidence, I added a parenthetical that stated my lack of success with this sort of pattern in 2012 and how trading them throughout the year eventually ground me and my account balance into dust.
Well, after watching TTM knife lower due to some poor sales or some suchness, I made the executive decision to “sashay” out of half my WGO position with a small profit and take a “wait and see” approach with the other half.
For the day my portfolio is getting knocked around, mostly due to the pre-market liver punch delivered by the aforementioned maker of classy Indian automobiles and the barbaric nature of the ‘idiots ETF’, aka EEM.
-EM
