Wow, what a ride. I honestly didn’t think I would be in and out of this stock so quickly, but that’s what happens when you play in the small cap space. So overall, this was a pretty bad trade for me. Jamba opened higher but then traded down all day on pretty much no news, but the bears were firmly in control.
I actually didn’t check on the stock until it was down around $4.90 today. I should have sold there, but I was waiting for a better price. It didn’t happen. Like I predicted, as soon as it broke through its support it was straight downhill from there. Good to know I was right, but bad because I didn’t get out of the stock in time. Truth be told, I did not think that the stock would hit my stop loss point in one day, but it did. At $4.54, my stop loss executed, netting me a 10% loss in just under two days. Yikes! Lesson learned.
So that means I took a loss, including commissions of $243.42. Kind of painful. Probably won’t trade rest of week and remain in cash. I’m on my way down to California to start a new job. Wish me luck.
No worries. You are going to win on some, and lose on others. That’s the name of the game. I knew this was risky, but was willing to take the risk. That’s the point of this journey. Take risk I might otherwise not and learn from it.
A good investor knows when to sell and when to hold. I would have sold too.