C has always had a way of making me feel below par. Although I still have a partial position in it, my decision to let go of half my shares in C recently was clearly wrong. It has been slowly but surely heading north these past few days even on days when the market in general was decidedly bearish.
I got out with a limit order, but in hindsight, should have probably used a trailing stop.
Still, I am not going to add to C at this point. I'm sticking to my plan and waiting until further news presents itself on the whole new share issuance / reverse split scenario. At that point, I feel that value dilution will come into play, which would potentially enable me to purchase at better prices. If it's really heading north for good, I've still got a partial position in it anyway.
The trailing stop takes a lot of practice and experimentation to master. This is one of my weakest links right now.
Whilst the limit is important, I firmly believe that the stop is even more important.
On the other hand, what is happening to AIG? Is its current upwards trajectory going to be one of those one-day wonders, or is its new CEO actually resonating with investors?
I'm moving my target up on AIG in case I've inadvertently bumped into a winner.
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