My day started a bit frazzled, but even with my on-hand technology mired in mud, I managed to do the previously unthinkable: trade with discipline. Yep, got out of RIMM with a profit of more than 5 bucks per share. Then I did the truly unthinkable. I went against discipline, bought back more RIMM at high levels — 114.50 — and watched it sink, sink and sink.
Instead of selling at 114 or 113.50, I held, ignoring the fact that the stock had run from 97+ to 115+ in a matter of a few days. I gave up the thought of selling at around 111, simply because this is one of only four stocks that I believe will withstand the mightiest bear market, if it comes to that. So RIMM sank to 106, rallied back to 111 before the close, and finished at 110. In after-hours trading, it is creeping toward 112.
All in all, my good trade early was offset by an absolutely buffoonish trade that is still alive going into tomorrow's market. Good and bad, in one day. Those of you who rode RIMM early from 109 to 115, and late from 106 to 111 get a tip of the hat from me. I give myself a chorus of boos for undisciplined trading.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment