Saved by the dead cat bounce

What? No, no, no, you don’t need to call the WWF. I totally love animals and I would never ever hurt any living being, let alone a cat. When I say “dead cat bounce” I’m not referring to an actual animal. That’s just an expression for a temporary recovery in the stock market price after a substantial fall (that’s part of my newly adopted trading / stock market lingo πŸ˜‰).

I simply couldn’t forgive myself for making the stupid mistake and not liquidating the Wirecard position last Friday. Instead, I just got myself deeper in the mess by purchasing additional 20 shares of this company (just WTF was I thinking!? πŸ€”)

During the weekend it became clear that Wirecard is definitively missing those 1.9 billion euros, which have “vanished” i.e. got “lost in translation” somewhere between Germany and the Philippines…

Going all in

Yesterday evening I decided to go all in and recover my losses by dollar cost averaging. So far I owned a total of 30 shares at 45 euro per share and I figured that – after all the bad news – this stock will most probably take another dive today, as soon as the stock exchange opens.

So, if I manage to “buy the dip” and bring the average cost per share low enough, I could sell immediately after, at a price per share just above my average cost… (as I already wrote last Friday)

Before going to bed yesterday night, I logged into my online banking and put three buy orders (a total of 300 additional shares). Ya, ya, ya, I know – this is exactly what you should NOT be doing – going all in and trying to recover losses. But I did. Otherwise I wouldn’t be able to fall asleep at night, knowing that I lost more than 1300 euro gambling on the stock exchange… 😩

Today morning, the moment I woke up, I grabbed my phone and checked the email. Bam! All three orders have been processed. Oh, man. Now I’m so deep in this, there’s no turning back…

Without hesitation I put a sell order for approx. one euro per share above my purchase price, for all 330 shares. Now, call me greedy or stupid but after all the stress I had during the past few days with this stock, at least I wanted to have some financial compensation and not merely close at a break-even point. πŸ€‘

Dead cat bounce

Luckily, after hitting the bottom at ca. 10 euro, the share price started going up and up and… and… almost reached my limit. Almost! Fcuk! It was just a few cents shy of my sell order limit. Fcuk, fcuk, fcuk! That’s what happens when you’re too greedy. That’s what happens. Oh, man. The share price hit the ceiling around 08:30h and after that moment it seemed to be just going down, down, down… 16 euro, 15 euro… fcuk. 14 euro… faaak that. 13 euro. Puh. “I’m doomed”, I thought. Now I have ca. 1300 euro plus another ca. 4500 euro at stake. And the share price keeps falling. You know, cold sweat, heart beating. I’m not kidding. Heavy shit.

And the worst of all – I have an appointment with my dentist at 10:00h and I won’t have access to the Internet or my online banking on the way there. Aaaaaaaaaaa!

“Ok, take it easy, dude”, I said to myself. “Nothing will happen during the next 30-60 minutes. Calm down, adjust the sell limit by a few cents, put on your shoes and go catch the bus…”

The very moment I entered the dentist’s office, I connected to the Wifi and checked my email: “Your order has been processed“. Yeeeeeeah! That was it. I’m out. I’m off the hook. Boy was I happy. Such a relief.

Of course, I could have had a few cents more but now each time I get greedy, I immediately remind myself of the old saying: “No one ever went broke by taking a profit“.

I wish all the best and all success to all remaining Wirecard shareholders, may the WDI share price go up again and may the new management lead the company out of this really awkward situation… πŸ‘

I’ll be looking for investment opportunities elsewhere, that’s for sure… oh, and today I sold that one AMZN share I had. Just in case Amazon decides to go down the Wirecard road…

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