Whatever that's way tooooo senti-menti for me at this time. But I do however have feelings for anyone who grew up or went to Waterloo university with the intentions of "ima work at $BBRY one day and just kill it there, thats my dream" you know what if you're that person and you got in and you're living it up and living your dream, good! Ima cheer you and Blackberrry with you homies! Lets get this company either back on track or bought out so it does better!
Why did I decide to go long $BBRY?
I don't want to get emotionally attached to $BBRY but honestly I want to see it succeed again! As you can see in the chart, black berry legit died from the last time it reported earnings, I'm sure it made a lot of people pray at night! I know I would! But after the decline from last quarters earnings I started to see a pattern develop on the weekly chart below. Do you see how the the bowl shape developed? That nice curve! It fell and just started curving and smoothing out? Don't think of a hyperbola from grade 12 math, nah, that's toooo much of a curve, I'm talking just a nice little
Banana curve! I saw the classic "LONG setup" $BBRY gapped down, it died all the way to 8.57 into a previous buying zone and then went side ways for about 2 weeks and BAM, on August 2nd 2013 I put in an order to buy 170 shares if $BBRY printed 8.93, and what happened? It printed 8.93 people! Sandeep officially owned $BBRY! And I wasn't too worried and I wasn't really expecting a whole lot, I was thinking this would be a month or so long trade because $BBRY is such a slow mover it's annoying.
Surprise: This little stock is a drama queen
I didn't know $BBRY was such a drama queen, I was expecting again NOT too much excitement, just was expecting my pattern to do the trick for me I already had my exits and profit taking areas in my head and targets set in place according to my trade so I was pretty calm. But all you SEE in the news is headline after headline "BLACKBERRY planning to go Private" and "BLACKBERRY buyout potential" and "BLACKBERRY up for sale" and all this non sense that I totally THREW my trade off in the good way. I purchased 170 shares at 8.93 and $BBRY closed today at 10.70 ish and it's only been 7 trading days since I bought the shares! It moved crazy fast!! This bad boy so crazy that I had to get rid of some shares pre-market last Friday, I was like O M G what just happened I need to take some profits and keep my pants on!
Below: Weekly $BBRY Chart
So on Friday August 9th, around 8 AM I see $BBRY is at like $10.33 I was blown away, I'm like WOAOOO what just happened!? Remember I had 170 shares at 8.93, so I wanted to take my gains, I wanted to put some money in my pocket, protect my position and then go back go sleep. I saw $BBRY pre-market just get hammered and slaughtered down to $10.03 and I'm thinking to myself it's already above my target 1 profit taking zone might as well take profits, and I wanted to sell 70 shares at 10.03, and remember I'm on my phone and in my bed and half asleep, instead of selling 70 shares I accidentally PURCHASED 70 more!!!' AHHHhhhhhh this is the second time I did this, so now I own 240 shares of $BBRY! I was so upset like ahhhhh I felt like crying, so in a rush I didn't even care I didn't want price breaking 10 because I knew once it did it would be a wrap so then I sold 140 shares at 10.03, and which means I had a total of 100 shares remaining in my position. Let me the do math:
Friday August 2: Buy 170 shares @ 8.93
Friday August 9: Buy 70 shares @ 10.04 accidentally
Friday August 9: Sell 140 shares at 10.03
Total shares remaining: 100 shares
And let me tell you, because I messed up and accidentally bought shares my average purchase price went up, originally I had purchased shares at 8.93 after the commotion my average purchase price went up to 9.707, that's an ENTIRE almost $1 away! I don't know WHAT happened but when I saw the break down of my shares it says I have remaining 30 shares purchased at 8.93 and 70 shares purchased at 10.03 and that average works out to be 9.707, which is possibly the biggest torture to even occur to me! That's like buying a banana at 8.93 and then accidentally buying another banana the next week at 10.03! LIKE I WANNNA SELL MY BANANA AT 10.03 to the public not BUY!! I already bought the BANANA and wanna get rid of a piece of it! BUT NO, I instead BUY another BANANA for THE current more expensive market price and THEN now I have 2 BANANAS and I can't make as much profit any MORE because my purchase price just got closer to the market price!
So what am I hoping for now!? I am hoping $BBRY blows UP and explodes in price, I really have to follow this stock now like a TV show! I tell PEOPLE I don't watch TV but try following the market and follow the stocks you invest / trade it is exciting, it's dramatic, there are twists and turns, there are set backs, surprises, there's money to be made!! Where as Sons of Anarchy, MadMen or Suits...ok they do all of the above but don't make you money! NO (I'm not saying those shows suck or are bad, I'm just saying I got my own sitcom going) respect to all forms of entertainment!!
So lets see what happens! Review the chart below! I'm hoping $BBRY prints an 11.01 and it'll be gone, cover the gap and shoot back up into the mid teens and ill be happy! Go go go!
No comments:
Post a Comment