Waiting for the time when I can finally say
That this has all been wonderful but now I’m on my way.
But when I think its’s time to leave it all behind
I try to find a way but there’s nothing I can say to make it stop.
-Phish “Down With Disease”
As the old saying goes, there is nothing terrible about being wrong. Rather, the problem is in staying wrong. With that in mind, I stopped out of my heinous $COCO speculative trade for 7.5% loss. I suppose it will be absurdly hilarious if I bottom tick the stock here, but frankly I knew I was taking on a lot of risk by the nature of how this chart looks, and how the stock trades. From time to time I will make “casino” type of trades like that, and over the years it has worked fine for me so long as I respected my stop loss and kept them fairly infrequent.
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TOTAL PORTFOLIO:
EQUITIES: 34%
- LONG: 34% ($GNK $LSCC $RDWR $BX $CMI $SWSI)
CASH: 66%
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[youtube:http://www.youtube.com/watch?v=FNt1IdNEJ-c 450 300]
I’m with you but with a wider stop on a 1/2 position. So long as the investigation is going and there are empty suit senators talking tough, the private colleges will probably languish.
On a side note, fundamentals look good and the charges (over promoting job placement and minimizing tuition “quotes”) are pretty lame – It’s 15K to attend Wyo Tech and you make mechanics wages…how hard is it to figure out.
If we are heading for a deflationary cycle depression and manufacturing is dead in the US, professional school enrollment should grow because you can’t outsource services such as plumbing, mechanical and auto repairs.
Thanks for the feedback, Donovan. I do not disagree with you on the fundy case at all.
Selling was the right call. It is very hard to book the loss and move on. It is also very necessary. I look forward to your next winner. We’ve all had our losses.
Thank you, sir. appreciate that.
I like your picks and analysis. Have been reading your blog for the past couple of weeks.
What made you buy COCO though?
It was a “casino” speculative type of play. i saw bullish divergences on the RSI, MACD, Stochastics, etc. Unfortunately for me, it didn’t work out that way, and I got stopped out quickly. It is usually not my style to play the falling knife, but I will do it on rare occasions.
Gotcha. Ya, when they pay off, they pay off great.