ELON is still a very interesting companny. I recall when it was down in the 60s (at which point I bought one call, which may yet do me good), Greg Mullineaux was saying on hi sthread that he'd wait for a retest of the 50s, because he was sure it would go back down to 50s, and he was right.
What lesson have I learned from the last few days?
1) I should look at charts of the QQQ and watch the NAZ--as I posted from that analyst, it had risen so far so fast, it had to retest. A chart would show where the retest is, and you could've kept some $ aside and just calmly used it at the right time
2) Similarly, I know enough about reading charts now that I should ALWAYS read them adn ALWAYS wait for a retest. This is a volatile market and the retest will come. So for instance, Steve Mamus was saying if TXN goes back toward the 140s it will be a screaming buy. Well, even when it's going up up up you have to have patience and just wait.
Reminds me of lurqer's point: you have to be completely unemotinal about it. We all get caught up in the euphoria and dsyphoria and that's when we make poor decisions.
Until my portfolio recovers more there's not a lot I can do. I have open put positoins that are using up a good chunk of margin capacity and I still think most of them will be fine. I may have to reposition CNXT we'll see.
Jill |
