If you bought a stock for a trade (technical reasons) and it goes against you and you find yourself doing any of the things below, then you’ve been had.
- Visiting Yahoo Finance searching for news on the stock.
- Typing the $SYMBOL on the StockTwits or Twitter search bar.
- Reading the latest 10Q, 8k, etc.
- Checking seeking alpha.
- Adjusting the trendlines that were already drawn.
- Figuring out your cost basis if you buy additional shares.
- Zooming out to the weekly and monthly chart.
- Daydreaming about that one stock that you held after it when through your stop and made you whole a few weeks later, could it be Deja Vu all over again.
- You suddenly have an interest in value investing, and you convince yourself that the stock is too cheap to sell at a loss, but if it gets back to breakeven you’ll get rid of it because then it will be fully valued.
- You decide to write a covered call so you can bring in some income while you wait for the street to finally realize the value that you see in the company.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
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