Discussion in 'Stocks' started by oraclewizard77, Feb 12, 2008.

  1. oraclewizard77

    oraclewizard77 Moderator

    SUF continued to be under short attacks this year bringing the price back to where it started before the 1st tests came in and gave some proof of concept.

    Finally, after 4 years as a public company, SUF got a customer order for their product.

    I dollar costed into this stock buying more at $ 3/sh. Yes, it was painful watching the stock move against me. However, I already calculated risk vs reward and was more than prepared to take a total loss on the trade since the reward is 3x. The good news about stocks is that they can not go below $ 0/sh so my loss was always limited and by using diversification over multiple sectors I also reduced risk. So I did what is impossible for most traders, to look at losing trade day after day, and not sell out at the lows but instead buy more but within my trading plan. At $ 3/sh, I had filled my last block trade, and stayed calm since I knew I was not going to commit any more money and was prepared to take the loss.

    I had no emotions until the good news came out today. I must admit, I felt good and vindicated in my analysis of the stock. :)

    I then sold my speculative long call options for a 100% profit, and then wrote a few covered calls against my leaps and stock positions locking in some more cash profit. Now I do what is even harder for most traders, I let my winner run as I wait for more good news to be released.