December 16, 2010
– Comments (2) |
RELATED TICKERS: MSB
MSB & RIG
Utilization for RIG is not high. Prospects in the Gulf are still dragging for permits. Oil is rising though and all boats could float. That said, fairly valued.
I made a mistake I haven't made in years. I let my emotions get the best of me. I guess I'm human after all lol. I bought msb early and rode the ride high, and the other day when it dropped 5 percent I kept thinking okay fine, profit taking. I broke my own rule which is when your up big you can your gain drop some, but protect your profits. Had I did what I was thinking which is put a stop loss to protect my profit I would be up $3,500 instead of a gain of only $500. But this is something that has to happen time and again. I will not forget this anytime soon and will be more careful about trailing and protecting my profits for the future. Good luck with msb which ever route you take and fools learn from my monumental stupid mistake, it's okay to take profits when your up 25-30 percent etc.