Thursday, July 14, 2005

 

Screwed up with BOSC

I should have seen it coming. I was upset all day yesterday and didn't even have any desire to post to the blog. I still haven't come to terms with the loss of my mother and sometimes I just get overwhelmed with sadness. Those of you who have lost a loved one know how it is. Anyway, not exactly the best time to be trading.

Oddly enough, as far as my portfolio is concerned, today started off well. BOSC released some good news prior to the market's open and the stock shot up 30 percent. I decided to sell half my position at the open (1,500 shares for $2.98 each) and then sold the remaining 1,500 shares at $3.45 each. Midway through the day, I checked my portfolio from work (something I try not to do but at times can't resist) and noticed that BOSC's shares were trading well above $4, up 100 percent for the today. I am not sure which is worse: buying a stock and watching it go down, or selling a stock and watching it go up. Both suck as far as I am concerned.

Then I did something very stupid. I lost my cool and for no good reason bought 1,000 shares back at $4.38. Very amateurish. I'm embarrassed to even admit it, but I figure there's no point in writing this blog if I can't be 100 percent honest with my audience. As I should have expected, the stock came down towards the close. Needless to say, the big lesson here is to trade using intellect, not emotion. The former will make you money, the latter will leave you broke.

Comments:
"there's no point in writing this blog if I can't be 100 percent honest with my audience"

I just want to pay my respect to that as a fellow trader.
 
I'm sorry for your loss, I can imagine how hard it is to trade under that kind of situation. As if trying to gauge how the market will move throughout the day wasn't tough enough. I try to let the experts handle that part :P I've been relying on www.advfn.com lately, which is pretty good at providing live stock info. Are there any sites you recommend? Feel better soon,
GoldenQ
 
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