What's going on guys, how has the week treated you? Whoo, swing-swing! I hope you navigated the waters well and possibly bought into the big selloff that we saw on Monday when the Dow Jones was down some 600 points! I wish I could say that I did. I waited until Tuesday and bought it into the strength.
I feel as though my trading has been a bit subpar over the last couple of weeks. I sold out of a few companies that I really liked. Zoom was meant to be a long term hold. After a quick buck, I liquidated the entire position! So stupid, as the stock continued to run. I went against my gameplan and missed this huge leg higher. Sighhhh. Because the street loves this stock and the price action is extremely stong, I bought back in today. It's a small play, as I hate buying into this type of FOMO trade. A selloff could be just around the corner - we shall see.
I attempted to catch the falling knife in TSLA. Oops, face ripped off - no fun. I took the loss and won't touch it again anytime soon.
I missed a trade in HUBS when I attempted to buy after its earnings and the 5% selloff that ensued. For some reason, the stock was halted in after-hours trade, and the order didn't go through. After a long night of poker, I slept in the next morning and completely missed the boat. It seems that other traders wanted to buy the dip, and the stock has been up every day since.
Not all is bad, though, as I have made some good plays as well. I bought up Under Armour shares last week. Today, the stock saw an upgrade and is up around 7%.
I unloaded all of my VXX position on the significant spike last week. That has paid off as volatility has fallen and is well off its highs.
I feel as though the environment is becoming better suited for my investment strategy. The VXX is heading lower, and I am again buying for protection against my longs.
I'm fully invested and will continue to add to volatility as it falls. I now own all the companies that I like. I did OK navigating the market over the last few weeks, but feel as though I can do much better moving forward.
Perhaps giving up poker entirely and just focusing on the markets is in the cards. Had I been up at the opening bell every day this week, I believe I would have made better trades and have more luchini in my pocket. Hmmm.
Anyway, that's all I got. Good luck moving forward, talk to you soon!
Remember, all opinions are mine, and I don't recommend trades or investments. Only what you are willing to lose. Speak with your financial advisor before investing.
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