Today is loss #2 and again the root cause of it is uncertainty.
Yesterday, I made my prediction that a buy recommendation would be profitable if Apple started in the low 90s pre-market and there was no major news announcements. This morning pre-market was mid 90s. So what did I do? I went ahead with my recommendation, which was completely stupid because I was acting without any insight.
To make matters worse, Apple dipped down to $92 (which was my recommendation), and then shot up to $99. I sold on the way up back to $95 because I wasn't expecting the huge jump to $99.
Again this is a perfect example of having your timing off which results you in always being 1 step behind from the market.
I feel a new rule coming.
10/28/2008 AAPL SELL 100 $94.4624
10/28/2008 AAPL BUY 100 $95.15
LOSS: -$68.76
No comments:
Post a Comment