Market psychology is a funny thing.
I sold TWTR at a (then) high, thinking I was smart. It then immediately dropped and I was even smarter. Glad.
Then TWTR gapped up and I was less glad but still not sad.
But on a terrible market day yesterday as I watched TWTR hit a new high I was sad. How could I have picked such a great stock and abandoned it for only an excellent profit as opposed to a super duper excellent one (as it appeared the sky would be the limit)?
Today it is crashing due to a revenue miss and the idea that Trump, ironically Twitter’s ally and foe all in one, may not win the election. Truth be told, that (Trump, the election and the associated cacophony of robo-tweeting a-holes on both sides) was a big part of my fundamental reason for positioning several months ago, along with the chart that I felt could change its trend.
Regardless of whether Trump loses or wins, TWTR may sport a buying opportunity at the 200 day moving average as it rises toward a lateral support zone.
Here, by the way, is the news blurb about the post-earnings mess.
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