Despite FEYE holding me down, I managed to make a little more than 1.25% today, putting my year to date losses around 22.5%. I realize it will upset many of you to see me make even a slither of my coin back. Moreover, anything less than total loss, 100%, is reprehensible to you. Perhaps one day “The Fly” will blow up in spectacular fashion, even more so than now. However, I still have my wits about me and haven’t lost an edge. By the time I lose my edge, you will already be dead;therefore, as logic dictates, it’s as moot point.
When is a good time to buy a winner?
Remember the answer, always: anytime.
Most can’t grasp it, as they’re too busy conducting themselves as ‘non-gentlemen’, cavorting about the market place with noses filled with cocaine. Sometimes you have to endure a little pain; and that’s just part of life.
If FEYE wasn’t already down 50%, I’d sell it now. There isn’t a reason to hold a stock that is down on an up day. Then again, it could be going lower due to another hedge fund blow up or some other sort of liquidation. I am convinced it is a mechanical mess, not fundamental. I am owning the stock for the month of May. I believe the downside is limited to 5% and I shouldn’t rush towards the exits now, after being so very patient with it over the last, tortuous, six weeks.
We have ourselves a 3 day rally, albeit a quiet one. Let’s build upon it tomorrow, refresh ourselves over the long weekend, then kill all of our enemies on Monday.