Monday, November 22, 2010

The Stock With No Name

Those of you who read yesterday's post know that after some deliberation, I took a position in DMAN on Friday. Long story short, this stock had fooled me many times before but I liked the odds of a breakout this time, so went ahead and took a position. This time things were going to be different. 
Well, the stock failed again and I got stopped out for little over 1% loss. I must have played this stock at least 5 times before and have got stopped out all but once. I would love to hate the stock, trust me I want to, but I grudgingly have to give it the respect it deserves. I don't think any stock has fooled me more than this one, not even in my rookie trading days. For that, it deserves my respect.

But like a jilted lover whose numerous advances have advances have been callously spurned, I must bid farewell to this stock. I shall play this stock no more. I wanted to get this in writing, hence the post. Dear readers, if you ever find me playing this stock, feel free to hurl abuses at me. OK, just leave a comment. In fact, I am never going to mention the stock by its name again. Henceforth, if I have to mention this stock, it would be known as The Stock With No Name.

Take care and good luck!


Bill said...

wow, nice self control. its tough but the right decision. thanks for the post, a good reminder that we all struggle at times in the trading world. even warren buffet needs a bailout every 50 years or so ;-).

positiontrader said...

Haha! The comparison is very obvious ;)

But seriously, what I don't want is for the stock to become an unhealthy obsession for me. I don't want to spend unnecessary time and energy on it, just trying to get the better of it. If it runs, great for those who are holding it, but personally speaking, I don't care!