What happens when you know what you’re doing, but you doubt yourself? You make a stupid mistake. If you don’t stick with your convictions and strategies, and you overthink stuff, you WILL LOSE MONEY.
Today was a bittersweet day. I fully expected $CDII earnings to be terrible, and I was hoping for a bullish outlook. What I didn’t get from the call was actual number guidance — and that put some doubts in my head. As I said on Friday I still liked the company long term, and if I could scale out some or all of my position I at break even or better for now I would.
The stock went up 60% today on some crazy short covering and it looks like some people are realizing that the MG business will do well in the future. I had 38,400 shares with an average of $1.40 ish.
Had I just waited a little longer I would have made over $15,000. Not only did I put doubt in my head, but I put doubt in @kunal00’s head and cost him $2000.
Instead I made $5000 because I doubted myself after surfing a few forums on the weekend. Not that you should feel sorry for me, I don’t expect your sympathy. I made over $13,000 today in realized gains, and added to a number of positions.
Stick to your convictions, and what you know best. If you don’t know then find the best people who do, drop the ego, and follow them. Let this be a lesson to you, don’t over research stuff on the weekend. Unplug. I should have listened to @hedgieguy when he hinted we should stay away from stocks this weekend.