Hi Reid,
Volume was not high in absolute terms. Still, that was pretty decent volume for RSTG compared to its 3 month average.
Today's volume looks like it will be stronger.
I guess Carolyn bailed? Sorry to hear that, but on the other hand, if she made a profit.... how does that famous expression go? "I never took a profit I didn't like!"
<ggg>
On one hand, I don't think it is wise to beat yourself up over "lost profits" especially if the trade was successful (profitable). That mindset tends to make it easier to stay in a stock way too long in the future, and then you run the risk of watching a profitable trade turn into a loser. Better to just learn whatever lesson you can, move on, and don't look back. Stop looking at that chart unless you are planning to trade it again soon.
Still, there is something to be said for letting stocks run if they look like they might have legs. With RSTG, I thought it might have a big move on news or something, or just continued mo-mo. So I sold half the position I think at 25% profit, then just held the rest with a trailing stop beginning at 25% profit on the original position, then adjusting upwards after that (NEVER downwards).
That's something I like to do wherever and whenever possible.
Sort of like having your cake and eating it too.
T |
