Who turned up the gravity?
As if the -30.2% drop in i2 Technologies (ITWO) on Tuesday were not enough top off my humility tank, yesterday saw Amkor Technology (AMKR) shave another 1.9% off of my portfolio. Just for good measure, today’s pick, Open Text (OTEX), is currently tracking down 4.5%.
Somehow, I have managed to stay in the top 4% of the 1,594,583 contestants who are suddenly looming a lot larger in my rear view mirror.
I really can’t fault the earnings spike potential algorithm, as its top pick from yesterday, Charter Communications (CHTR), is currently trading up a little over 3%. In a contest like this one, though, half the fun is throwing caution to the wind and overriding what your stock picking system is telling you what to do – which is exactly what I intend to do again today.
For those who are worried about my casual disregard of CNBC dollars, you might be somewhat heartened to know that I am toying with a new kind of stop, a so-called behavioral stop. Don’t look for this term on Investopedia, however, as I just made it up. I define a behavioral stop as “metric-based trigger that is designed to force an individual from continuing on a course of repeating a particular self-destructive investment behavior.” For example: if I drop out of the top 10%, then I stop playing volatility roulette.
Now, let’s see who’s reporting after the bell today…