Welcome, Ye First Loser of the Year
Welcome Amazon (AMZN), the first losing trade of 2013, for which I bought puts Wednesday morning. Ironically, volatility puts were the first winning trade. That is how it works. There will be winners and there will be losers; neither trade will define me. Neither trade will define the year, either, nor will it make or break the year. But there will be losses. I will keep watching Amazon looking for another entry, and not necessarily on the short side. But, for now, the market is not ready to give up the Amazon ghost, so I need to give up the Amazon trade.
For those who look for long-term, slow-motion breakout trades, I'll revisit Monsanto (MON). Jim Cramer and I covered this one back in the last week of July 2012, both with a very bullish outlook. While the stock subsequently retested the support/breakout level -- represented by the brown dotted line shown below -- this chart has held up well....285 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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