Post a CommentThis morning I will be closing out 3 more trades from my long & short tech stock picks and it’s always more enjoyable to do so when the 3 are winning trades as is the case this morning. In all 3 cases, I have a decent level of confidence but prefer to open new trades as the earnings season gets started and there will be more opportunities to go after. Returns indicated here are as of yesterday’s close but trades will be closed on today’s opening:
Feb 24: Long Priceline (PCLN) & Short Blue Nile (NILE) +20,52%
May 19: Long Apple (AAPL) & Short Oracle (ORCL) +20,79%
May 19: Long Netflix (NFLX) & Short Pandora (P) +25,13%
As is always the case, you can see all the 2014 long & short tech stock trades here:
http://www.intelligentspeculator.net/livetrades
The portfolio return is now over 23% and I’ll have a few more trades to go so hopefully things keep up:)
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I’m disappointed that you’re closing out your winners and letting your losers run. Especially the losing pair FB/ADBE which is down 10%. It would make more sense to do the opposite.
Usually traders and investors alike should acknowledge their error and cut their losses, that is correct.
But if fundamentals haven’t changed you should actually sell something when it’s become more expensive and keep it when it’s cheap is in this case.
I’m not saying it is right, I’m just showing two different ways of reasoning.
But yes, one should always have a stop loss since ones one mind isn’t very good at knowing when enough is enough.