I sold 500 shares of GRMN at $107.04 (entry at $105.25) for a $825 gain (+1.7%).
I don’t feel good about this trade. It may sound hard to believe, but I am probably more conflicted about this trade than any losing trade I’ve this past year.
After reading comments and personal e-mails responding to the post announcing my trade yesterday, I began to question my entry. This morning I decided that I would ignore my target and take profits if the stock bounced today. When the stock hit $107, that’s exactly what I did. Normally, I would wait for the stock to either reach my target or my stop.
Today, I let my emotions get the best of me and played it a little too safe. The stock broke out over resistance, picking up volume, and is up on a day where the markets are down and breadth is terrible. There is not reason for me to have exited!
I’ll chalk this up to a lesson learned: Trust my own analysis and don’t let outside opinions cloud my own judgement.
Note: I value all commentary, questions and analysis from my readers, even if it is contrary to my own opinions or analysis. My rant is against my own judgement, not the comments themselves. Please do not hesitate to leave feedback, via post or email.