Free Fall

16 Dec

Who would have imagine that Visa fell $9.75 per share today, 13% drop!  The US Federal are up to no good again… what the hell are they sticking their nose up in someone else’s business!  Now, they want to regulate and lower the fees that Visa charge the merchants.  Oh please!

Last Thursday, I sold half of my position for $80 @ 100 shares to lower my margin.  I pocketed only $206.92.  The currency exchange basically killed my profits.

Looking back at my Visa play from July 21st where I had bought in at $71.99, I should have sold out earlier.  But I was stubborn holding out hopes that Visa will make a comeback and looking for the Canadian dollar to fall.  For the past six months in which I have been holding, Visa was a roller coaster going between $65-80 a share.  Most of the time, it averaged out to be around $75.  I saw that pattern and decided that Visa had ran its course.  Time for me to unload half of my shares.

I’ve made some mistakes this year:

  1. Sold out my winning stocks too early:  AGU, GQ, CHE.UN, WTE.UN
  2. Kept my losing stocks for too long:  BGEM, NOT, V
  3. Added position to a dead penny stock:  UC
  4. Decided to buy a loser instead of the winner:  HSE vs LLL

 

 

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