Stay Away from Gamblers

Someone should tie my hands whenever I’m tempted to participate in the volatility.  CMG had the weirdest price actions.  Yesterday AH’s earning release brought the stock from 257 to upwards of 274.   This morning the stock opened below 246.  I was tempted, did a long scalp with only 10 shares and I got my cheese.   The Then I began to be “smart” by guessing the top and shorted on the grave stone doji.  Got stopped out.  Then the get even mentality kicked in and wanted to short again — against the trend.  Got stopped out twice.  Then I got really emotional and reversed position by going with the trend and went long.  Boy, I longed right at the top.  Classic whipsaw actions.    Then I alleviated some pain by some firefighting scalping to reduce the loss.  At the end of the day, I lost $400 on this CMG folly.   This was bad.  Bad habits are hard to correct.  But at least it wasn’t like the CSCO, FFIV, and NFLX where similar volatility were at play due to post earnings and I think I lost a couple of thousands on each of them.   Please quench my temptation to get quick profits.  It has never worked with my long history of extraordinary bad luck.

PS. Adding insult to injury – one more late day trade after double top, got stopped out at local top, losing additional $44.  A crappy day for sure.

Portfolio Value: $139,400

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