CHIO earnings came out and despite the now bullish chart, I didn't like the chatter of the people I follow. This one has always kind of bothered me -- I hate companies that burn cash.
So I sold the whole thing. I think I made a little bit overall... breakeven at worst. Like I said, the chart is good but I am skittish so I decided to look elsewhere. I feel better about names like NEP and even APWR which I don't even have a big position in.
Now -- see -- this is the problem with being a follower and not a leader. I really don't know what's up with CHIO. Is it good or not? I never made a clear plan. I guess what I saw was -- the ER came out today. It seemed good, but some people had some questions regarding 'quality of earnings' and meanwhile - the stock is only up 1% for the day -- and the past 6 months have sucked while everything else has been running up. Is it appropriate to bail out on a gut feeling? It's not what Buffet would do. I'm no Buffet for sure.
I follow a lot of other people's picks. That's my strategy. I'm 100% responsible if the stocks I pick fail. I never blame the guy I was following. So if I decide to bail out -- that's my decision too. The good thing for CHIO holders is that I'm wrong a lot more often than I'm right. I'm dumb money. (Just having a decent year :) So I move on.
Today the market was mixed but I still made money (again!) this time thanks to CKGT, CIWT --- and that's about it really. But those two were good enough.
I added NEP and APWR today. (Neither did much.) I feel more comfortable with those names. I've followed them longer. I also feel much more comfortable with big board stocks, even though I've probably made most of my profits this year in .ob stocks. Well -- it's been another fine day. And good day to you, sir.