For those paying attention in my personal stocktwits stream, I exited that BLDR short earlier for a small loss. Lost something like 1.49% on the trade itself.
Which is one of the most important skills that anyone who wishes to become a trader must learn. You have to learn to exit losing trades. I can’t tell you the number of new traders I’ve seen, that will allow one trade to grind them into the absolute dust and destsroy their entire account. Simply because they refused to take a loss on that trade, when it could have been contained to a nice, small loss. Nothing we say, or demonstrate or explain can force or make another person learn to do this. I can’t force people to exit losing trades and thus, become a better trader. You simply have to exit trades that have moved against you. Be patient with your winning trades. Be impatient with trades that move against you.
Regardless, we’re still long SYNT … which had a nice +2.55% up day today. We’re still long PGX, which paid us a rather nice dividend last week, and is up something like +3.65% since we bought it. We’re still long LOW, which had a nice +1.49% up day. We added a CECO short, a PFE long, and a XRX long. We’ll see how those pan out.