Hi everyone. I hope you had a nice week.
I had a nice week – I hung out with some friends and played some poker at a local casino this week. My job search is going poorly so I’m brainstorming ideas to reopen a company similar to one I previously started.
Back to stocks. My current loss streak extends to 7 after I got stopped out of 3 positions this week. Luckily risk was managed properly, so I’m only down about 4% after these 7 trades. The reason I’m not down closer to 7% is because TWTR stock is still doing pretty well.
I entered C (Citigroup bank) at 68.25 on Friday. It’s had a nasty 12 down days in a row, but still remains in a longer term uptrend. I expect the price to resume it’s uptrend within a week or it will likely continue rapidly declining, in which case I’ll be stopped out.
C daily stock below. I successfully traded the pullback in January this year, and this drop feels somewhat similar. The risk to reward is about 1 to 3. Will this be my 8th loss in a row or will I get a win here? Let’s see what next week brings.