Hey Nerds: Blockchain
- Thread starter zeke
- Start date
LeafOfFaith
Well-known member
You're like the stock svengali. What is this? All of your names, PIN, PTON, FAST, have exploded. You're trading in and out of them so you're doing even better with them than just long going up. And then you're calling and putting all over the place right before big moves. Are you from the future and playing the market with advance knowledge of the outcome? The stock market version of Biff from Back to the Future?
CH1
The Artist Formerly Known as chiggins.
My PSNL also having a day.
sometimes you get lucky and people agree with your positions after you buy them.
My win rate is actually <50%, I just make sure the winners are bigger than my losers.
CH1
The Artist Formerly Known as chiggins.
except most of us (including me) find it easier to hold on to our losers (hoping they come back) and sell our winners (ringing the register feels so good)
LeafOfFaith
Well-known member
Yeah, I was liking PTON, but what kept me away was the fear that people simply wouldn't have the disposable income to spend on it, even though they were getting rid of their gym memberships (by force). I still think that's a big risk, but maybe I'm miscalculating on just how much people prioritize their exercise even in a pandemic when they might be taking significant steps back financially.
CH1
The Artist Formerly Known as chiggins.
you're right that most people can't afford it...but there's no shortage of wealthy Americans at the moment, and eventually the price will come down
LeafOfFaith
Well-known member
If I sour on something, it's gone as soon as it reaches back up to breakeven. That's why I ditched EA. Crazy enough, I knew it could go up further (and it's up $20 since I sold it), but I was just done with it. Luckily the one I bought with the freed up cash has matched it, so it's no loss. But I was over it.
As of yet, I haven't sold my winners, with the exception of Shop of course. I also bailed out of Qcom and BX way too early because they had frustrated me badly during the time that I owned them.
CH1
The Artist Formerly Known as chiggins.
yep and on the flip side, selling a winner is proving that you were right, which satisfies a big urge.
CH1
The Artist Formerly Known as chiggins.
LeafOfFaith
Well-known member
I held on to Fitbit way too long. I remember after that shitty earning report, it fell down to $7 but then rose back up to $9, and my broker friend said it was for sure a dead cat bounce. I just couldn't take the L. Frankly I'd still be holding it if they didn't agree to sell and lock in a loser price for me.
LeafOfFaith
Well-known member
I bought it when it dropped down in the $50s a couple of years ago. I rode it up into the $70s when the Broadcom merger was on, and then it fell all the way back down and I told it to fuck off. Now it's mooning me at $100+ and paying (if I'd kept it), I don't know, like 7-8%. That one I sold more because I figured Apple wasn't going to let itself be at their mercy again and would just develop their own chips and put them out onto the street. I've learned over and over that these blue chip companies just don't go away though. It's foolish to count them out.
LeafOfFaith
Well-known member
CH1
The Artist Formerly Known as chiggins.
exactly...
Preston
MBow30 alt account
My desire to sell winners is the reason I've played the volatile pot stock cycle for so long. It is one of the few sectors that you can get huge gains selling pops and buying dips. You do that in tech, you'd sell a pop and end up having to buy higher. Speculative sectors work for me and my overall strategy. Except it's becoming less speculative now so I'm now going to maintain core positions.