On the 9th of January I alerted my first 2,000 share entry on LGF long around $8.45. I added 2,000 shares to my position the next day around $8.80 during the technical breakout. This trade was labeled a long term position on the account of The Hunger Games movie in March. My plan the whole time was to hold through all the ups and downs. Then in a stroke of genius, on Tuesday January 24th I had a gut feeling the market was going to pull back so I sold my position at $9.31 for a legitimate 7.45% profit or $2,556… great right!?
Well not so fast! Immediately after selling the stock took off, gaped up to $10 and today hit $11.28. That’s literally less than 2 days later and about $10,000 in profits on the table because I had a hunch the market was overbought haha. At the moment of selling, I figured I’d lock in a nice profit and just buy back at $9 support a few days later #fail!!! This is painful to write about but a good lesson for all of us… if you find a great catalyst with a strong technical pattern then just stick with your game plan. The Hunger Games movie launch in March was one of the best catalysts I’ve found in a long, long time… so it’s very frustrating that I let broke my plan so easily. That my friend is how $2,556 in profit feels like a $10,000 loss.