I woke up today pretty tired from stock research the night before til 1:30. I was anxious. I was also nervous about depositing another 4K check of borrowed money into my bank account for stocks. Then I checked on my positions and to my surprise, OCLR was down big at the open gapping down 15%. The good thing is I didn’t panic or feel the urge to sell immediately. The stock was sitting on its 50 dma and the gap support from its previous earnings.
I did some research and found that the reason was because One of oclr’s customers ZTE was being sanctioned by Us commerce department and could no longer buy parts from the US including OCLR. This represents about 10% of oclr’s revs and it changed its guidance to the bottom of the range.
Glencore was also down sharply as it hit resistance at the 200dma. This was much more expected with the entire commodities sector going bananas over the last week.
Either way both stocks are still acting correctly and haven’t violated their moving averages yet. I will continue to stick to the sell rules and not deviate from them unless I see something really extreme happening.
Other positions were down today too except for MITK which was up 10% at one point to close up 6%.
The market weighed on my psyche today. During my lunch session I could feel a wave of doubt and dread moving into my body. Thoughts that maybe I’m making a mistake by risking the borrowed money and maybe trading is not for me. This also compounded what I had been feeling as a result of my reduced sensitivity and inability to stay hard during sex the last couple times. On top of that I haven’t had a long meditation session in 3 days.
To restate my intentions. I will stay present in the market and watch my thoughts and emotions and recognize them as such. I will stick to my buy and sell rules.