I was having a nice day up until I started to think about the occasion, circa 2014, when I lost millions of dollars long 4 tech stocks that absolutely drove rails thru my heart and into my wallet. It was my worst draw down in history and the blog post I did documenting my implosion was quite famous, linked by all of the fashionable faggots who secretly enjoyed seeing Le Fly down on his luck.
I’ve had a great run as of late, but the losses are starting to become known to me and I am cognizant of not letting a good party turn dour. Therefore, I started to sell off stocks that were meant to be trades, but have since lost their momentum.
I sold DDD, CTRL, and GPRO; and I replaced them with old man stocks enjoying this rotation: PG, HSY, and GIS.
The idea isn’t to get bearish or even defensive. I still have 80% invested in my active account and felt I needed a counterbalance to an already risk heavy portfolio.
During markets like this, once you begin to see signs of rotation, mock and deride it all you want and stick to your guns, but respect your stops. That’s all I have to say on the matter. A lot of people didn’t stop out of BILI and other Chinese names yesterday and today are feeling the wrath of that neglect.
Stop out at 10% and feel good in the morning.
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DDD still acting like money wants it.