Panic Selling

Today is the kind of day that can really hurt a momentum trader, since it was the leaders who took the biggest hits in todays selloff. I had 7 swing positions going into the day, and was very excited to see these stocks doing well in the morning. When I saw the selloff in the afternoon, I liquidated my entire account. Sounds a bit extreme, I know. After I did, I felt foolish, but nearly all of my stops would have been hit anyway. Here is how my positions faired:

AAPL: +$5.05
Had been holding for awhile, and sold some on the way up. Was hoping to do a lot better. I was stopped out during todays selloff. In the end, made about $5 per share.

CROX: +$4.59
Also sold some on the way up.

FCX: +$3
Took this position last week. Sold at market during selloff.

MA: b/e
My nemesis, since I often lose money with this stock. I had moved my stop to b/e last night. Was stopped out today, although it held up well early in the selloff.

PCU: +$9.30
Bought this yesterday and sold this morning after it hit my initial target. I was wishing I hadn't sold in the morning, now I am thankful I did.

GME: -$1.35
Blah. Nothing to say, Panic sold this.

GNK -$1.40
Ditto.

Sold my remaining CTRP earlier this week for a total gain of:

CTRP: +$1.80

I can't be upset because most of these were sold for gains, but I had so much more.

Right now, cash is king. we'll see what happens from here.