Down HUGE in 2 days.

So I chose a wall street darling stock to play, which reported this afternoon, LNKD.

Big mistake again.

I initially went short, as a revenge trade on social media stocks…  But kept flip flopping long/short through the trading day, as I got nervous about the price action.  Losing confidence with each loss makes for bad trading decisions…

SHORT 1500 LNKD @ $220.45
COVER 1500 LNKD @ $223.39
$4360  LOSS

—–

BUY 1500 LNKD @ $223.49
SELL 1500 LNKD @ $220.05
$2178  LOSS

—–

SHORT 1500 LNKD @ $222.10
COVER 1500 LNKD @ $223.30
$1665  LOSS

—–

Finally, at 3:59 in the final minute before the closing bell, opened a long position again, as I saw some strength building up:

BUY 1500 LNKD @ $223.35

Sure enough, right on cue, stock popped higher on earnings beat, then tanked 5 minutes later…  Took it on the chin and sold out in after-hours.

SELL 1500 LNKD @ $196.99
$39,574  LOSS

Totally stunned, $48k loss in LNKD….    Account balance stands at $40k.  $160k loss in three days…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: