And just like that I’m managing a -10% position. It’s 2/3 size too, dragging my book down nearly a full percentage. I’m talking about none other than action camera extraordinaire Ambarella, Inc.
“It just happened so fast.” – Famous last words.
Seriously though, this is what happens when you’re caught in a momentum downdraft. There were too many weak hands in this name apparently. Perhaps the weak hands still exist, flailing around, in need of correction.
I’ll have you know I’ve been corrected my entire life. My 4th grade teacher would slap my hands with a yard stick for disrupting Bible studies. Even with carbon dating, I could never convince her dinosaurs existed.
“God put dinosaur bones in the ground to test our faith in Jesus.” Right…may I have another slice of Jesus body? I’m starving.
With AMBA, we’re in an IPO environment and the company creates camera components. It’s not some social concept that curious minds gather around and debate where the money comes from. IT COMES FROM SELLING PRODUCT. There ought to be some buyers down here, perhaps at my final buying tranche.
I’ve clearly built into the name too soon, enticed by the virgin blood. I’m in bed with the name now, prepared to deploy more capital between $15.50 – $14.25.
TPX went on a rally today, still my largest position, and perhaps I should just cut my losses at this point, down a mere 10 percent. Perhaps, but the chart resembles bracketed trade, ranging from 35 – 50 so the greater risk at this very moment is to the downside. That is, if my bracket theory is correct.
FaceBook is really bringing some heat to the market. It’s exciting to see.
I had quite the run on GTAT today, but I’ve already sold most of it, booking a cool 6 percent in profits. I’ll always grab that bread when it’s offered. I still hold a runner that wants more, more, more.
I’ve held AIXG for so long, since June, and it has done NOTHING. HOWEVER, it has done nothing. All the while Europe is sucking, including Aixtron’s brethren from another reverend Deutsche Bank whiffing on earnings. So perhaps any updraft will lift this name with great vengeance and furious anger? I’ll stick around a bit longer. This is my German LED play, BTW.
I have several other small positions, 25% cash, and a 10% FXY position as we ride into a very headline heavy day tomorrow. I suppose I’m feeling lucky.If you enjoy the content at iBankCoin, please follow us on Twitter