That is why I like swing trades, no HFT and split second decisions needed.
Well done.
At first I thought swing trading will be hard because of my work schedule. Surprisingly, I now realized it's more fitting to my nature! As I've said before, I'm too slow for daytrading. But my chart reading skills are pretty decent.
So yesterday I got in PCG perhaps a little early $20 instead of the lows of $17.75 due to my work schedule. But I was confident that it would work out due to the chart patterns. Because I waited for the extreme lows. Not the first day of the drop but the 5th day. Of course, it could go to $0 like Lehman Brothers. But my reasoning that it's a utility and it can't fail. At least not too easy to fail.
When the news came out AH, I was relieved. I sold out everything today. It could still go higher. But I don't want to risk some random news about lawsuits and liabilities to drag it lower.
Overall, it was a worthy risk to take. I could have really leveraged up. But I think it's better not to bet too large of proportion of your portfolio on one idea.
