Over the past few weeks I’ve accumulated a bunch of stocks that, at the time, looked great. But today, not so much. I took losses on almost all of these stocks — some very small, some decent sized. I could’ve held them, stubbornly, or averaged down in them to rescue a losing trade — but I opted to sell them — because if I’m not willing to own them now as a new position — then I shouldn’t own them at all.
sold $HCLP, $SLCA, $CPE, $BE, $SPOT, $TUSK, $IPHI
This raises my cash position to about 35% in my trading account. Being that the market is consolidating and going through some indecision now, I’ll probably hold that cash for another day or two before figuring out how to strike next.If you enjoy the content at iBankCoin, please follow us on Twitter