Ouch! If I hired a portfolio manager like me, I'd have no choice but to fire her. I have to admit what a terrible trader I am today. This is getting so lame! My portfolio needs some major TLC and I think I need to start doing damage control with my Roth IRA. I have two positions that are in minor profit (namely Sultan BCS and C) and I can either take a profit now and figure out something better to do with the substantial bit of moola or I can let it continue to retrace just because I've got a major TETSOB + can't admit when I'm wrong self-defeating attitude. Recall that I was lamenting how I messed up by selling my Crown Prince C after Bernanke's JNSB. Now, I have to be all schizophrenic and wonder out loud about whether I should have sold more.
I don't know what I want to do. The problem with me is that I always start out a trade saying that it'll be a 21st century ORTT. Then, when it retraces, I never have the heart to take a loss. And when it finally goes in my favour, I never bank on the organic growth. How can you trade like that? I'm not even selling - only buying. The market was totally taking me along for a ride rather than the other way around. But isn't this what most people are taught to do by their stock brokers? They always tell you you have to average in. But my BFF forex broker never told me that.
Tomorrow, if my Sultan continues to consort with others (which gets me very jealous), I'll sell part of the position for a minor gain and take a wait-and-see approach. In all honesty, I can't let go of C though and it's only because I did my bimbo analysis some time back and still like the risk:reward very much. But having to give up my Sultan of Liquidity? That'll hurt too. Yet my Roth IRA can only move if either C or BCS moves. And I need that moola to move in my favour, which means I've got to do something else with it.
Now that I look back on my relationship with the Sultan, I see $20.52 as having been a critical level. I took the difference between the 52WH and the 52WL and then divided that by half, which is basically the 50% Fibonacci retracement. Since there was price weakness there, we're most likely on the way down now. I'm going to have to test out this theory a bit more. I said I would spend the weekend doing my own homework but ended up doing some other type of homework instead.
I miss my BFF forex broker so much today. I think he's a lot smarter than a lot of people - not least because he was one of the first to sell the EUR/USD way back when.
-0.74% on the SBA, which was recently rebalanced when I sold part of C and bought some CENX
-2.04% on the Roth IRA, which experienced no rebalancing lately
The show must go on even though the sovereign is still in debt...
No comments:
Post a Comment