Many of the high growth SAAS names have been struggling to break out in recent weeks. There have been some pretty quick drawdowns in them and I feel like I’m pushing a boulder uphill instead of down. As such, I’ve decided to take some money off the table to reassess the market.
I sold CBLK for a 9% loss, HUBS +4%, SAIL +5% and ZEN +6%.
Since my quant account is killing it, up another 60bps for the day, I am in no urgent rush to throw money back into the market, although I did just buy ROKU. Look at the chart on ROKU — believe me — very beautiful.
Very soon ROKU will be running with its tits hanging out, in the fields, without a care in the world.
My other active trading positions are doing fine, including ZS, AGMH, BUD, PVTL, GIS, and MDB.
I will not let losses get bigger than small. No matter how much I like a stock, I will sell it if it’s underperforming. I will always look for new trends and try to spot them early. This is my struggle and I will be doing it here for the rest of my life.
It’s like a prison sentence, only that is makes me rich and affords me luxuries that most can never enjoy.If you enjoy the content at iBankCoin, please follow us on Twitter