Tag: QQQ

Regrets, I’ve had a few
But then again, too few to mention
I did what I had to do
And saw it through without exemption

I planned each charted course
Each careful step along the byway
And more, much, much more
I did it, I did it my way

– Frank Sinatra, My Way  Frank Sinatra – My Way | Live from The Main Event at Madison Square Garden (1974)

Few in the business take ownership of their losses and missed opportunities (long and short).

Every day I listen/view the B.S. of guests and panelists in the business media — as if they never made an investing or trading boner. Their insistence of buying lows and selling highs is disingenuous.

But I do take ownership of my screwups. 

As I have written, I am often wrong and always in doubt (and I mean that, as they are just not words).

Over the last four weeks I have had my share of blows — most recently in cannabis and Glass House ($GLAS) (which I will be discussing after speaking to management). After profiting and selling near the 52-week high, I sold my PepsiCo ($PEP) prematurely (after buying back near the 52-week low) — missing the last five-day advance from my sale price.

I failed to take advantage of excellent opportunities on the long side — specifically Microsoft ($MSFT) and Amazon ($AMZN), which I was poised to buy, but my ursine predilection held me back.

I also failed to take advantage of the opportunity set of individual short names. I saw “no broadening” and I took a quick and profitable trade shorting the Russell Index ($IWM) right at the highs, but I missed the big move (from $305 to under $280). I took a series of short-term gains in trading $SPY and $QQQ but missed the big (and playable) move down in the Nasdaq.

So…

My national anthem… but you need not rise!

My friends I have made it clear and I have stated my (bearish) case of which I am certain.

I have travelled each and every highway.

But more, more than this I did it my way.

Regrets I have had a few recently.

I grew tall through it all and did it my way.

I’ve loved, laughed and cried

I had my fill, my share of losing.

And now, as the tears subside.

I still don’t find that it’s all so amusing.

I took the blows but did it my way.

Position: Long GLAS (S)