Since, I bought it at $118.89. The stock has a crazy run all the way to $136.11. I figured, why not profit $352?
And so I sold it. Maybe it a big mistake, it will run back to $160s which is the fair value. But the election is a week away. I’ll buy it back if Hillary win. If Donald wins, then the stock market would doom anyway, I might need the capital to buy like crazy.
With this sell, it will increase my shorting profit for this year to: $2541.59.
It’s definitely not much. But a little bit helps.
What do you think? Do you sell stock quickly if increase in value too fast?
Me personally no unless it is a stock like Netflix which i did but shortly after i sold it dropped big time down to under 100 so i was glad i did of course it is cyclic and doesnt pay dividends but took some profit. As far as a dividend stock i dont think i would as im in it for the long haul. But every one has to sleep well at night with their decisions.
Wow, congrats on making some killer profit with Netflix.
I still believe in longterm dividend growth MCK, however, the $350 profit sounds pretty good.
I smell blood on the street this coming week, I hope then everything is selling off. I’m still deciding which one I’m going to grab in the red market.
Of course, if the market is up, then it’s all good, I’ll keep my cash and continue to hunt.
If MCK go back to the $120s, I don’t mind buying 23 shares.
I think you did well. If MCK was never intended a long term holding, take the money and run. I see nothing wrong with what you did. That’s a nice chunk of change in a very short amount of time.
I actually was expecting the stock to go down another 10% and I’d bought more to lower my cost. I didn’t expect it to rebounds so quickly in just a few days.
Thank you for the encouragement. The shorting position is what I’m trying to get away. I guess we’ve been watching too much Fox News that Hillary lead is dwindling, so the market is so gloomy if Donald is elected, making me feel little discourage. Anyhow, I have more cash now, ready to buy more.
November 9th, American will wake up feeling different , that is for sure.