As you know yesterday I lamented the fact I had booked 8 consecutive losing trades, after some gigantic fucking wins — the biggest ever. By the way, I am up 46% in my trading account for the year, so don’t even think about it. And that’s with 5% weighted positions.
At any rate, I booked the following trades.
Granted, those are tiny dicked wins, but I needed them. Yesterday I bought some of this DAO because China and bore witness to it skyrocket up 20% inside of an hour or two. Like a fool I did not sell and now the stock has collapsed. I am actually down from my basis of $25 now.
Interesting conundrum. Do I cut the loss now and move on or average down? I don’t like the business, so an average down would be based purely on price. Is this capitulation or can it go lower another $5 tomorrow? I will have to think about it.
Aside from that, I bought 4 new stocks today — trying to keep up with the Jonses here.If you enjoy the content at iBankCoin, please follow us on Twitter