What Lucky Timing🤷‍♂️
I posted stories about Coinbase a couple times recently, it’s the largest position in my portfolio. I literally just posted something 20 minutes ago that I’ve been working on this morning about some legitimate crypto projects to invest in. And mentioned several times how much more I trust Coinbase than other exchanges.
They jumped 20% yesterday so that had a significant impact on my portfolio. But I headed over to SeekingAlpha to see what was up this morning after I posted the CommonStock and saw that it’s up 30% already today. This is obviously some runaway algorithmic trading foolishness. But it had a Hella impact on my portfolio and it’s really tempting me to sell this position because I know it’s going to drop significantly over the next couple days and I can buy back in at $70 or lower. My problem is I don’t know jack shit about technical analysis, I just see the price bouncing all over the place and the more it happens within a relatively easy to scalp 10%-20% gains, the more reliable I tend to believe it is. As a long-term fundamental value investor, I don’t do a lot of swing trading. I do buy really undervalued stocks and sell them when they return to FairValue. Sometimes it takes a week, sometimes it takes three months; so I definitely feel like a traitor sometimes. But with Coinbase I think I have more long-term faith than just selling it at $106. So I think my prior two articles have convinced me to just hold onto my position, and continue adding when it sees more significant dips of >10% like I have done all year.
Just sharing real time thoughts of an amateur portfolio manager😉



I actually sold my Daqo position for >80% gain, holding approx. April-July, maybe they just track current holding that is best trade.

Short term results are luck, can’t wait to see these long term results 12-18 years down the road, when I can start bragging🤣
Conor's avatar
$COIN is halted on Robinhood right now! Nice work Eric!
Eric Messenger's avatar
@conorvalue that’s hilarious; goofballs. Can it really be anything other than algorithmic trading running amok? I mean there’s more fear and scandal baked into Coinbase today than any positivity. I’m the only person I know that’s bullish on Coinbase. Even Cathy Wood sellin’ I hear.

I bought Netflix after it dropped to $187 from its lofty valuation, currently trying to decide if I want to sell those positions at nice gains or hold long term also.

Wild that Bill Ackman, the professional, buys Netflix at its highs and gets crushed and now Cathy Woods, another professional, sells her Coinbase position, not sure if it was some or all, literally a week before it jumped 20% & 30% in two days.

This is exactly why I do not follow professionals’ trades OR advice. I pretty much do the opposite of what they do & recommend (not by design, just the way I think due to learning from Graham, Buffet, & Lynch first)
Joey Hirendernath's avatar
If you ever need a perspective from an investor seasoned in TA @investorinsight is your guy :) Just might be good to bounce ideas off each other
Eric Messenger's avatar
@joeyhirendernath Preston is the one I ask. I try not to follow TA but I can holler at him any time I have a question.
Gary's avatar
Even though you don't tend to swing trade, I think it's ok to take a win when something like this falls into your lap. Nice place to be.
Jensen Butler's avatar
$COIN made us some coin today… #nice image

Jensen Butler's avatar
@jensen.now just triple from here please.