I noticed you’re a little hyped over this stock pick. Remember the rule: you will always regress to mean. Its just another day at the office, so while you have a nice win here, somewhere down the road you will face an equal loser. What will you do then that would be different from now? Perhaps, you wouldn’t share it to the world, since its easier to publish our wins. Will an aversion to loss cause you to hold on? Will you abide by your trading principles to cut losses and admit defeat? Well, that’s something to keep in mind. But going into this trade you must realize the possibility that the herd will take profits and leave you behind. Are you willing to admit a mistake there? Or will your bias rationalize your trade and cause you to hold on to the trade thinking you’re in control, when only chance or luck will make either humble you or make you look like a genius, the latter being even more dangerous as it would embolden you to make a patter of bad trades.
So while the trend is in your favor, remember you are not playing the market, but the players. The market is unbeatable, and it should stay that way. If everyone could beat the market, then there would be no game. Respect the market, and continue to short the greed, buy the panic, kick those who are down, and pull on the capes of stock traders blinded by their so-called superhero power analysis.
From the heart of a contrarian…
Its time to put fundamentals aside, and just attack LK from short term technical perspective. Stock is heavily shorted, and its high r/r for bears. Take advantage of those chasing the top, ride this to the 30s. Expect dips, which should make good entry points. For example, a morning pop to 29.80 showed high rate of exchange of covering, buying, and profit-taking. These uncertain and panicky exchanges usually mean the stock will continue in its short-term trend.
Adding to longs here.