AXYX Update
Alright, so I get back today to find AXYX with a $1.24 high on the day sitting at a price around $1.22. I also found out that I had only 5,000 shares left because 3,000 had been sold out (rememeber the Limit order I placed) on Friday at $1.19 (the stock closed at $1.16 that day, I gotta steal at that price). So, not only was I happy that part of my position had been sold out at a great price, but I was also happy about my decision to make the order expire at the end of after-hours trading. At about 2:30 PM today I put in another Limit order at the high ($1.24) just to see if I could get lucky and get some shares sold out. Sure enough, though the stock closed at $1.22, I got 1,100 more sold at $1.24 in after hours (the best price in after hours ; ) ). Before I move on I want to re-cap that I sold out 3,000 shares at $1.19 on Friday banking a profit of about $120 and 1,100 shares today banking a profit of about $100 (excluding commissions); My position left is 2,900 shares.
What I am going to relay now is probably the most important part of this whole trade because selling is ALWAYS the hardest part. If you remember when I got into the stock originally I stated that my target price was $1.20. The play was to get a rise because of new investor interest due to the CFO speaking. Now, what I am trying to relay is that though AXYX is beyond my target price and is showing signs of upward potential strength we cannot forget the original goal. As tempting as it is to just sit with my position or even buy more to "get one more penny out of it" or "to watch it run" or whatever your mind tells you in my opinion is to always walk away. In the end my goals have been met and I have made my money, why should I put that at risk? For me to hold AXYX would mean that I would be setting a new target price and be going for a different play, did I do my research other possibilities? Did I look to see if any other stocks were in a better position for this kind of trade?
There is a story about a person who set a trap for chickens. He could only close it once and his original goal was to catch 3 chickens. So one came, then two, then three, then 4 and 5. He now had reached his goal and could have shut the door and walked away with more. But no, he decided to see if he could "get just one more" and waited. Not only did he get one more, but he got a 6th, then a 7th, 8th, all the way up to 12. Now he was way beyond his original goal and was loving the payout, after all he had 4 times as many as he originally planned for! So, instead of closing the door he decided that on the 13th chicken he would call it a day. But, one left, then 2, then 3. EMOTIONS GOT INVOLVED, "They will come back" "I'll wait for one more then get out" "I can't loose". Soon 4, 5 ,6,7 were gone and eventually he lost all of the chickens. What started as a simple accomplished goal became a miracle then a huge blunder. What is the moral of the story? YOU CAN NEVER GET EMOTIONS INVOLVED, STAY DISCIPLINED!! In the stock market it is SO EASY to say "I will wait for another 10 cent rise" or "It is going to go up more I know it". You cannot veer off your original path that you chose to stick to. In the case of AXYX, I would not be surprised if it runs to $1.30+; as well I will not be surprised if it runs down to $1.10. So, instead of playing the emotional game I am going to take my profits and walk away without any regrets. THIS IS A VERY IMPORTANT DISCIPLINE TO HAVE.
Tomorrow my goal is to get out of the rest of my 3,900 share position of AXYX and go back to the drawing board. I am going to walk away and find the next big play without my mind or emotions getting involved. Like I said earlier, selling is the hardest part; don't make the same mistakes I have for all it takes is one big one for you to loose it all. Look for a post or two tomorrow, have a great night, and always
To the future,
What I am going to relay now is probably the most important part of this whole trade because selling is ALWAYS the hardest part. If you remember when I got into the stock originally I stated that my target price was $1.20. The play was to get a rise because of new investor interest due to the CFO speaking. Now, what I am trying to relay is that though AXYX is beyond my target price and is showing signs of upward potential strength we cannot forget the original goal. As tempting as it is to just sit with my position or even buy more to "get one more penny out of it" or "to watch it run" or whatever your mind tells you in my opinion is to always walk away. In the end my goals have been met and I have made my money, why should I put that at risk? For me to hold AXYX would mean that I would be setting a new target price and be going for a different play, did I do my research other possibilities? Did I look to see if any other stocks were in a better position for this kind of trade?
There is a story about a person who set a trap for chickens. He could only close it once and his original goal was to catch 3 chickens. So one came, then two, then three, then 4 and 5. He now had reached his goal and could have shut the door and walked away with more. But no, he decided to see if he could "get just one more" and waited. Not only did he get one more, but he got a 6th, then a 7th, 8th, all the way up to 12. Now he was way beyond his original goal and was loving the payout, after all he had 4 times as many as he originally planned for! So, instead of closing the door he decided that on the 13th chicken he would call it a day. But, one left, then 2, then 3. EMOTIONS GOT INVOLVED, "They will come back" "I'll wait for one more then get out" "I can't loose". Soon 4, 5 ,6,7 were gone and eventually he lost all of the chickens. What started as a simple accomplished goal became a miracle then a huge blunder. What is the moral of the story? YOU CAN NEVER GET EMOTIONS INVOLVED, STAY DISCIPLINED!! In the stock market it is SO EASY to say "I will wait for another 10 cent rise" or "It is going to go up more I know it". You cannot veer off your original path that you chose to stick to. In the case of AXYX, I would not be surprised if it runs to $1.30+; as well I will not be surprised if it runs down to $1.10. So, instead of playing the emotional game I am going to take my profits and walk away without any regrets. THIS IS A VERY IMPORTANT DISCIPLINE TO HAVE.
Tomorrow my goal is to get out of the rest of my 3,900 share position of AXYX and go back to the drawing board. I am going to walk away and find the next big play without my mind or emotions getting involved. Like I said earlier, selling is the hardest part; don't make the same mistakes I have for all it takes is one big one for you to loose it all. Look for a post or two tomorrow, have a great night, and always
To the future,
posted by Blain Reinkensmeyer at
9:21 PM
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