Have Some Guts

So I saw a cup with handle forming in PEET and got in with a position.  4 Days later, it’s paying off as it blasted off this morning on upgrade and rumor that it will partner up with GMCR on the Keurig platform.  Up over 14% at the open.  It sold off from there but still finished with over 7% gain.  But guess what?  I only had 25 shares, leaving me just $93 paper profit at the end of the day.   This is hardly anything to be overly excited to make me take profit.   Have some guts!  I mean, even a small position should be 100 shares at this price level!

On other front.  SINA had earning and disappointed.  I had Mar 90 Call which was already big red before the earning.  After today’s 6% selloff, the option is pretty much done.  The cost of $440 can pretty much be written off.   I have such a great timing.  SINA has been a froth from last July’s $32 to February’s high of $95.  As soon I bought 1 call contract, that’s the end of it’s run and I end up $440 poorer from SINA.

No luck on my long term holding of AONE either.  After yesterday’s earning, the selloff continued today, down another 2%.  My 800 shares have already turned from $200 profit to $1000 loss in just 2 days this week.  This is a far cry from what I had expected when over the weekend AONE was featured on NBC Nightly News as the one example of innovation on R&D !!

Back to the subject of no guts. Well, yes I’ve been very discouraged by all the bad luck and mishaps, but I really need to have more guts and patience to wait out my setup.  Here’s a trade on JOYG today.  I entered a trade after the trend line break.  OK, may be I got spooked a bit with that red doji but nothing else should have caused me to exit where I did.  My target was at least the horizontal resistance!   Bad.

The market took a dead cat bounce and sold off again in the past two trading days.

Portfolio Value: $139,180.

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