At the risk of seeming utterly capricious, I will say that I got out of my DIG position soon after I got into it.
Why? Three reasons.
- Volume Counts: The fact that the volume has been steadily falling for an entire year shouldn't be ignored.
- Gold Envy: I realized a big part of this trade was to compensate for regretting not getting in on gold. That's illogical and a poor basis for a trade entry.
- No Breakout: Yes, it's a nice inverted head and shoulders pattern, but there still isn't a breakout. Until there's a breakout, it's simply in formation.
Total loss? Three-tenths of one percent. I can live with that. But a handful of folks seem to get upset when I state a position and then they find out later I'm no longer in it. So I'm trying to make a bit more of an effort.