I have been doing some bottom picking in some of the former high fliers over the last few days.
IRBT was one of my targets. And I had 2/3 of a position in the stock as of yesterday, buying twice before the stock started to rally. Something that I don't recommend, but I felt strongly about the general market rallying shortly, so IRBT was one of the things I bought.
However, yesterday after the FED minutes came out the general market took off to the upside and IRBT did not follow. So I sold it. It was not acting as I expected. If it is not doing what is expected then I am wrong. At least right then.
So far today the stock is also weak. It may take off and rally in the future. Or it may not. But right NOW it is not. And I don't like losses.
This becomes an ego thing. If it rallies from here I will be reticent to buy it again JUST BECAUSE I HAD IT AND SOLD IT. At least that is how I was in the past. If the action is sufficiently strong I will buy it again. Sometimes it takes a few tries to get things right. I don't pretend to know the future, my edge is in the present.....
SCTY was one of the others. :)
gh
Later: I ended up selling that SCTY for a small gain. The selling is heavy this morning. There are sellers who are waiting for volume to sell...
But the oil, gas, and gold are strong.
It has to be the Putin effect.
War??
gh
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All comments are appreciated as it will give me a chance to adjust my content to any real people who may be out there. Thank you. gh