Sold Too Soon

While not as pessimistic as my cyber-bud Patrick about the prospects for Annaly, today’s review of the fourth quarter of last year and conference call did give the stock a boost.

When NLY hit $18, I unloaded the shares I bought over the past couple of weeks.  It kept running.

Do I get to take credit for it running on up to $18.15?  Not with that one.  Millions of shares trade daily, so even my personal trading timer gremlin can’t affect that one.

Still, having put on some shares when it dipped below $17.25 last week, getting out with a few bucks works for me.

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3 Responses to Sold Too Soon

  1. Kevin says:

    Great call, continued success.

  2. Li says:

    When I think about the threshhold of taking short term profit, I realize I derive more pleasure from not spending the money…is this sad? 🙂

    My C holdings are still underwater. What I did in January was selling $5 strike 1-year calls on 1/2 of the position, to lower my cost a little bit. The wild card for banks is the CRE loans. C is relatively under exposed to those. That’s why I am still comfortable holding the downside risk. Maybe it is because I know something about credit cards but nothing about commercial real estate.

    • hhill51 says:

      Li —

      You’re not alone in this. I suspect that very few of us that enjoy the process of trading is actually a raging fine wine alcoholic or concert groupie or has a garage like Jay Leno’s. It’s more like the stakes we are playing for, and what constitutes one hand’s ante, I think.

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