I extricated myself from a potentially ruinous trade, long MVIS at 20% of holdings for a stout loss of 4.5% x 4. This removed 100bps of gains from my portfolio and I am certain it can now run freely without me. The idea of losing money in a short squeeze stock on a day when short squeeze stocks run was something that caught me off guard. The old stubborn Fly would’ve kept it out spite, only to be forced to sell later for an even deeper loss.
I managed my day like the space alien magician that I am (SAM) for a gain of +110bps. The gains could’ve been greater and should’ve been +300bps — but I got in the way of a melt up, something that is rare but happens to us all.
Into tomorrow’s light, I am 118% levered long, without a care in the world, up nearly 190% YTD.
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Dayum
My Chicom, Kong, S Korean stocks waaaay outperformed today. Hard work v printing ready to be rewarded????