This post gathers notes related to a long position I am working on O Realty Income (O).
12 – November – 2019
Positive things found
- Strong hand buying.
- SPX continues going up, waiting for a correction.
Negative things found
- Entry price over EMA-50.
- Very expensive PE > 60
- If price <EMA50 = second long.
13 – December – 2019
I executed the second long and I did a third long to try to compensate more.
At the end, I looked at the monthly chart of the stock and I saw that this is not a bullish stock anymore, the trend has changed and I was wrong with my thesis.
The result? I short the 60 stocks I bought and I did a 15% loss on the money I put on the table.
I have had to apply the action that I do not like from my system, but I have to.