It was an epic run, surreal even. But now it’s over — at least for me. The magic touch I had was REJECTED today, amidst a flurry of events that led me to -2.8% for the session.
It all started with the announcement that the DOJ would investigate SI last night, causing me to sell it down 20%. That stock came all the way back this morning, rendering my sale a big mistake. Also, I had a slew of stocks margined that I sold at the open — mostly because I had recovered from a grim open of -4.3% to -2.7%. Those stocks all came back too, after I sold them.
Then I tried what looked like easy trades and the strong ISM numbers caused the market to spill over a bit, forcing me out for small losses.
I now sit with a fully long book, hedged with SQQQ at 15% and nothing going on, sad even. I might as well go walk the dogs for an hour and be grateful that I am +20% and +8% for the week.
But before I do, I’ll try just 1 more stock…the last one I promise.
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