LOTZW Trade on Feb 8, 2021 15:26 from tjmiller2001: Tradervue User Stock Trades.

Entered swing position on LOTZ.

I believe in the company long term and I don't like the options prices. I don't think owning shares gives me enough leverage to match my conviction in this trade. I bought a very small amount of warrants with the intention of scaling into more if I see consolidation or a down move over the next few days.
- On 2/10 Added 10 more at LOD just picking off low prices. Will likely make it a habit to buy lots of these on red days and sell a few on green days. Not trying to perfectly time tops and bottoms, but instead build a core position wisely, while taking profits. Pretty confident in this.
- On 2/23 Added 10 more on day LOTZ was down. Will likely sell 10 or so warrants when price hits 3.00. There seems to be resistance there. Also, it seems smart to buy at 2.25 support.
- On 3/03 Added 5 more near support, waiting until 3.00 to sell. Would buy a few more around 2.25 or buy a lot more around 2.00
- On 3/04 Added 5 more near support. Thought about buying more but I'm not confident that the current selloff in speculative names is over. This used to be a SPAC so it is selling off with the tech sector.
-On 3/05 Added 5 more. Expected earnings beat in 10 days. Want to be sized up for that.
-On 3/25 and 3/30 Added 25 more at great prices. I believe in CarLotz's fundamentals.
-On 4/07 GTC order filled at LOD, which always feels good.
-On 4/21 Started scaling out. Even though I still believe in the thesis of LOTZ as a long-term play, these warrants should be held in a long-term account. Right now, my current account is focused on turning $150 to $200 in 7 days or less then repeating that. Trying to turn $150 to $200 and giving it 5 months to play out is a waste of capital in terms of opportunity cost. That's why I'm starting to scale out, so my capital can be used in a more productive way with other shorter-term opportunities.
- On 4/23 I started to scale out. Slowly selling small amounts as price approaches 2.00. I'm ready to have this capital back to actively trade it.
- On 5/17 I got completely out.

Lesson Learned: This account shouldn't be for long-term trades. I might even switch it up and avoid swing trades on here because the opportunity cost of holding my money in a single position for too long is higher than I initially thought.