Took a small hit with NCI. I lowered my position size by about 40% so now my upside profit potential will be a lot lower, but more importantly my downside potential is lowered in terms of dollars. I figure I'll be having a lot more losers now mainly because my Jan gains might of been just because of a good month. I haven't had those amazing trades for Feb at all. In fact I pretty much lost all my Jan gains in the second week of Feb. But those losses were from me putting on way too big of a position and not selling when I could, but when I was forced too.
NCI had a few things going for it that I liked. It had a huge blast on Friday but the only thing that drove it were earnings. Nothing special. There was actually a headline out saying it was overbought. Maybe the dip at the open were people selling but it took off after that. Unfortunately I was in the rest room when It ran up, came back and I bought in at 15.80
Next candle started out significantly lower and it didn't even attempt to inch it's way higher. It fell down to about 1.65 which I wasn't too worried about and then it started falling below 1.60 and that was a problem. I didn't have any indicators telling me to sell but a monetary loss told me to sell. I got out at 1.58
Not a big loss, actually very reasonable. We'll see what tomorrow brings.
2 comments:
What's up with your charts, they don't show up in bloglines.
Umm...I have no idea.
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