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.