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My Core Rule
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My core rule has always been to buy stocks that are going up and sell ones that are going down. Makes sense right??? If it was only that easy!! I find myself right now tearing that rule to shreads. Lets look at the positions I have.
AAPL Short @ 120 (up 70% in 6 months)
HOKU Short @ 10.95 (up 100% in 2 weeks)
JSDA Long @ 16.00 (down 55% in 3 months)
RACK Long @ 13.00 (down 66% in 6 months)
NYX Long @ 74.25 (down 33% in 6 months)
I am beginning to see a pattern here. Every stock that I am long is trending down and every stock I am short is trending up. Who am I to predict when a stock is going to change directions? Sure, HOKU is up 100% in 2 weeks (i feel pretty good about my positions here), that is seriously pushing it. I guess if half of these picks do what I expect them to I will do fine.
Should I keep pretending to trade by my core rule? It does make sense right? Or do I need to reexamine it? |
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