LULU Trade on Oct 14, 2020 00:00 from aristocks: Tradervue User Stock Trades.

Took another shot at $LULU

I was hoping that support level was enough to keep this stock up, but unfortunately there was a rotation in the sector out of tech and into more stable stock. This brought down this stock.
This in addition with new pandemic cases, worsen economy and election insecurity, drove this stock to the ground.

Because I had it on margin, I had to sell some to reduce my exposure and took a loss of 4k.

update 1:
I still believe this stock is worth 400$ but will need to be a longer time frame. There are some analysts coming out with increasing PT (around 400$). The stock is moving wildly.
I had the opportunity to sell it few days ago at 354 (purchase price) and take a loss of 4k and maybe try to renter on a bearish or waiting for support, but I was too busy with other stuff and did not see the trade. Should have put an alert.

update 2:
Now I was wondering if might be a good idea to buy an additional 100 shares at 310 (second time bounce off from 305-310) but was not able to pull the trigger. Now the shares are around 337 which I think is too late.

In the meantime I am loosing the opportunity to enter other trade and take advantage of the last dip. Some interesting tickets for good trades were: COST, COUP, PTON, SBUX, PLRT, NKE, UPS, CVS, U, SQ, SNOW, MDB, FSLY

OBSERVATION:

In principle my trade was done correctly. Technical analysis was supporting my thesis. However two big mistake I made:

1. FOMO AGAIN!!!! I should have wait for a confirmation of the support at 353 before entering the trade.. instead I waited only few days and only two candles (usually should be at least three)

2. DID NOT PUT STOP LOSS: again, instead of exiting with a smaller loss and take my chance again later or with another stock as above, I did not put a stock loss and my loss instead of being 500,1000 or 1500 end up being 4k and could be even greater if the stock does not perform well in the next weeks.

REMEMBER!!! PUT A STOP LOSS OR SELL IF ITS A LOOSE TRADE!!!! THERE IS ALWAYS OTHER OPPORTUNITY SOMEWHERE ELSE! DO NOT TAKE IT PERSONALLY! TAKE EMOTION OUT! STICK TO YOUR STRATEGY