Harry, my dear, are you trying to be unpatriotic with me? That -5.00% move today makes me wonder if my paramour HWD is headed for a downtrend? On a 3-year chart, the bull flag that could have been looks more than a tiny bit wobbly now, but it could just as well become an Andrews Pitchfork uptrend. I also have a feeling that high beta stocks are more prone to doing triple tops than double tops - something I'm going to do some more research on. Right now, I'm going to pay attention to see if HWD hits $15 once again, observe what happens at that erogenous zone, and then if necessary, do some partial profit-taking. Obviously, I'm also watching the critical $9.99 infomercial level, which I've been eyeing for some time.
EATR held that $0.0002 level and IDGG, my other penny stock (besides LEHMQ), has been stuck in a range as well.
Last night, whilst I was lying in bed, I had an insomnious (I had to look that one up) trading insight. A trading month comprises about 20 trading days. So in order to give myself a winning chance, I'd have to be in about 20 stocks so I don't have to feel so bad about profit-taking. I'm only in about 10 and most are fair weather territory type plays. This weekend, I'm giving myself a second goal since I failed my first goal of taking profit this week and that is to research stocks that have a high negative beta to balance my high beta ones. These are really hard to find because after looking through hundreds of balance sheets, I've only really seen one or two negative beta stocks. So to find one that's a high negative beta one could be really challenging. But I realise they are necessary to my long term trading success and I'm going to put my moola where my mouth is and test out this theory in reality trading.
Where does my portfolio stand today?
-1.79% on the SBA
+0.92% on the Roth IRA
Happy Weekend, HSFTs! Don't you love it that I'm back to my textual harassment type blogging ways and better than ever before, my darling honey bees?
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