If you have read me – for all the good, even brilliant (ha ha ha), bad and boorish that has entailed – over the years you know I am not a natural momentum manager. But in the case of TRXC I decided it was a story stock with a story that could come true.
The company’s funda have been slowly coming along with a couple robot sales here and there but more importantly FDA approval and expanded application approval. But then the Russell 2000 came calling and there appears to be a mandate in play among the managers who are tasked with robotically (pun somewhat intended) buying the index.
And so… I want my mommy. Or I want to suck my thumb. Or I want to get a hobby. Anything to keep me from fretting about this missile launch because the intention of taking the position was for the long-term story and not getting faked out along the way.
We are now in the 3rd day of the big R2k ramp (the 1st day was before the announcement as apparently some players got the ‘wink wink, nudge nudge’ ahead of the press release). So far I have not sold a single share, but I still want my mommy. This is unfamiliar territory, riding a story stock this high (now +145%) without at least taking a partial profit as per good trade practices.
The smack down is going to come, but if I’d have acted on that fear a couple days ago I’d be sad now. Amazing what greed, fear and other aspects of human psychology can do, isn’t it?
While it had been included in NFTRH since long before the move started, TRXC was spotlighted here on the public site on day 1 of the move as it gapped up, finally, from the consolidation (May 9).
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