Wednesday, February 17, 2010

Never, ever look back...

So as you well know I sold my Citi shares yesterday for $3.30. I am finally free and I a happier person for it. I am sure they have tanked, and are doing poorly again- What? $3.43 as of this post? A fool, you say?

I have heard that one of the most important things to do when buying and selling stocks, is never look back. Hindsight is always 20/20 and sometimes that perfect vision isn't a blessing.

Yes, I sold Citi too early. Yes I figured at some point it would go up. Do I regret what I have done? Absolutely Not.

I sold Citi because I do not believe they have a good business model or a good company. Markets are naturally fickle. Any company, good or bad, can be bullish (ie strong **). Traders, opposed to investors, have vague reasons for trading and are only looking for a quick buck. With that said, I am an awful Trader. Terrible in fact. Don't get me wrong, I am not going to stop trading, but I am going to just have to think less like an investor and more like a trader.

So lets look forward and think of the bright side. ATVI is doing very well, and if things continue in this direction, not only will I cover my costs.... I might... just maybe... make a profit! Don't tell anyone though... I don't want my profit to see its shadow and declare 6 more weeks of losing money.

In a couple more days my sale will clear, and I will be able to turn that money I got for Citi into shares of some new exciting company.

"Wait... your in the black? You?" Thanks...

SymbolCostMkt Value+/-
ATVI 142.68 145.47 +2.79
Total 142.68145.47+2.79

-tCT

**For those who need clarification, like I did, Bullish means strong or positive and Bearish means weak or negative. Honestly I think its dumb. Bears are stronger than bulls. The song wasn't Lions, Tigers and Bulls oh my... But everyone uses it, so join the club, impress your friends with random trading facts!

1 comment:

  1. hindsight is always 20/20, looking back its still a bit fuzzy, haha megadeath

    ReplyDelete