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!
 


2 comments:

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!