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Lessons Learned.
Well, for anyone who cares.
Be advised it is too hard to explain what I am doing, while I am doing it..
I try to give a little
comment as I try for whatever you can determine from it.
I went against the flow and lost...70-20-10.
I bought SNDK, based on the fact it had dropped like a rock, for no apparent
reason...
I felt there was room for a major rebound...(bounce) Which I feel would
have happened, if the
overall market had not tanked. I tried to buy another 1k shares to bring
down my average price..
Then as I realized I was going to lose today, I noticed ASND was strong in a
very negative market
So that tells me, if the market rebounds a strong stock should take off..
It did help a little,
but it was too little to late.
So what can I learn, don't fight the market... 70-20-10.. I should have
waited later in the day to trade..
It was a short day and I was long.. oh well..
I sold 2000 of SNDK shares at 30 and 1000 shares of ASND at 33.5/8
So I took a lost of roughly $1200.000
I would have lost more without some damage control...
I will probably be on the side lines tomorrow, unless it Is too tempting...
This anniversary issue may spook the market...
Class dismissed....
Regards
Don Green
crying in his cave!!!
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