I sold at 2.15, will buy back at 1.80, page-6

Picking up mangled pennies on the train tracks after the train passed is my MO. So I bought a whole heap today.

I picked this up during Covid March Madness at 1.72 and was rewarded handsomely when I sold in May for 2.15. I left all the profits in there as a free carry.

Bought more mid July at 1.80 and caught a falling knife all the way to 1.705 by early August. I'm glad I stayed through that because by mid-Oct I was able to sell that mid-July top up at 2.15 (again!) and left the free carry profits in the long side of the portfolio.

I regretted selling the mid-July parcel owing to the strong run starting early Nov. In fact my sellers remorse almost got the better of me as I contemplated buying more the day the NBN Ann got released (which I thought was a positive predicament) but ended up waiting to what would happen as my TA says we were hitting that LT resistance I pointed out in the last post.

Today I backed up the truck at $1.79, I still have 13% worth of fat owing to the previous carry carries.

Seriously though this selling is overdone. My FA (Future cashflow) says this is valued at $3.60 per share and that is a pre-divvy premium. The current TA and quant valuations is set at $2.07 and that is where the death cross of the 50 ema crossing the 200 ema to the downside looks to occur. At this point this is really trading on bad sentiment and is so far removed from any FA, TA or Quant valuations that there is nothing left to do but buy...

Picking up mangled pennies is not for everyone. You will need a good eye for TA for it to be successful but my free carries on BIN, ECX, ADH, MMM (most recent) and a few more in the portfolio is the reward in the past.

Good luck and all will be well. That cashflow is too strong to worry about SSM going to zero.