Breakout for Shanda Interactive
So far Shanda Interactive (SNDA) has been a dream trade. It broke out of its trading range top of $14.55 a few minutes after I bought it. The overall market still looks skittish, and I don't believe in this stock play enough to fall on my sword for it. Therefore I put on a stop at $14.48, insisting that it perform now or turn into an involuntary day-trade.
MEMC Electronic Materials (WFR) has earned my trust over a profitable relationship of several months so I'm being more patient with it; no stop on it but I'm not riding it down to new lows either. So far it's performing well also.
Conventional wisdom says this sort of emotional decision-making is foolhardy, but the Iconoclast is honest enough to acknowledge every investment decision involves emotion. This doesn't mean every decision is ruled by emotion or impulse, but that emotion influences the choice among some rational choices, such as tight stop or loose stop. But this is a topic for another post.
Posted at 10:20 a.m. Eastern time.
MEMC Electronic Materials (WFR) has earned my trust over a profitable relationship of several months so I'm being more patient with it; no stop on it but I'm not riding it down to new lows either. So far it's performing well also.
Conventional wisdom says this sort of emotional decision-making is foolhardy, but the Iconoclast is honest enough to acknowledge every investment decision involves emotion. This doesn't mean every decision is ruled by emotion or impulse, but that emotion influences the choice among some rational choices, such as tight stop or loose stop. But this is a topic for another post.
Posted at 10:20 a.m. Eastern time.
posted by Houyhnhnm | 7:04 AM
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