The hardest thing to do is to book losses at the lows. But a line has to be drawn, otherwise a 10% loss will quickly transform into a 20-35% loss.
Today I sold out of HK and MODN, for 10% and 8% losses respectively. My fear, heading into earnings, was a miss, which could quickly transform (extra MUMMA RA) small losses in the gargantuan variety. At the same time, I am dealing with BALT, which was -15% as of yesterday. However, thanks to today’s gains, my losses are a little less than 6%. ALJ, which was a winner, has turned into a break-even, after today’s move.
Take into consideration that I was leveraged at 130% of assets, a great risk in a downward tape.
The best option was to sell some of the dogs and prepare to re-enter the market with a fresh perspective.
Next week I will put my best efforts forward and take back the gains that were mine, which are now being held in stock market hell. Meet me in The PPT for details. I work best when I have something to prove.
Fat little catamites!
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