iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,464 Blog Posts

Dealing With Missed Opportunities

Just yesterday I had 10% of my account in NBEV. Heading into the day I had intended to place another 5% in — upping it to 15%. But because TLRY ran hard and made NBEV run too, I opted to sell — believing yesterday would be a blow off top. Many of the pot stocks exhibited blow off top moves yesterday, which further entrenched my belief that I made a good decision. In hindsight, it was a dreadful one — a fleeting idea that I now regret, miserably. I gained 44% and have never hated it more than I do now — gawking at the stock drifting above $7 like a wave, luring all sorts of pikers into the stock who now know what I knew weeks ago.

Had I held, my gains would now be in excess of 200%. Truth is, this has happened to me numerous times in the past, especially when I’m trading and ripping out profits. The essence of trading successfully is to be disconnected from the logo you’re trading. A profit in NBEV is no different from a profit in GE; you take it when you can and don’t bitch about it later.

I have company visiting House Fly today, so I’m in host mode and have been tasked with scrubbing toilets very diligently and very beautifully. After that, I’ll be tasked with mopping the floors, vacuuming the rugs, and of course cleaning the exterior of the automobiles in the drive way. Do not live my life — it’s not worth the effort. Get out there and make a bunch of money and travel to Ireland — get drunk and fall asleep in the streets. Getting old isn’t for the young and being young is often taken for granted. You won’t know how stupid you are until it’s too late.

Ciao.

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11 comments

  1. heckler

    Those cars better sparkle like toilets or your guests will not be impressed.

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  2. mushroomz

    HA ha

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  3. mushroomz

    I also sold NBEV for mere double digit gains

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  4. dcolella15

    Good piece.

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  5. it is showtime

    Not a very “hidden” predesired consecutive-day tripledigit dow

    Next time make it less obvious guys

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  6. juice

    there’s plenty of coin left in the reefer stock madness

    CRBP
    CNTTF
    ITHUF
    IMLFF
    VBIO
    NTEC

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  7. helen

    Bought nbev puts expiring tomorrow

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    • numbersgame

      Good luck – and that is exactly what you need, blind luck. You picked Red, your seller picked Black.

      The stock move from now to expiration will have very little to do with valuation and in terms of trends, while it’s possible to find an asset in bubble territory, its impossible to spot the top in time or price.

      I gave you a thumbs up for at least posting your position when you palced it instead of after it becomes profitable.

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  8. numbersgame

    It’s also important to keep in mind *why* you got in the trade, as it reinforces reason to get out.

    If you saw a chart, spotted a trend, and calculated a target, then you are set. If you expected some significant event news (earnigns, buy out, regulatory action, etc.) and that materialized, again you are set. If the trading volume of the stock multiplies by 100 and the stock moved in your favor: recognize your *luck* and get out before you regret it.

    The news about MJ-Coke is nothing really new: its two weeks old. The stock had huge volume Sep 6. And the smart money bought in Aug 22 – the same day and at the same price as NBEV Board of Directors. https://www.sec.gov/Archives/edgar/data/1579823/000165495418009507/0001654954-18-009507-index.htm

    While I have pulled winners early myself, I have also lets winners ride only to see them later become losers (Muuuuuuu). Guess which actions I regret more.

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    • Po Pimp

      Dude, they said they bought puts that expire today. I think the reason “to get out” is pretty obvious.

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