Tuesday, August 7, 2012
Today I sold out of my position in SORL Auto Parts, Inc. I knew for a while that I should have just closed the position but I purchased shares when I first started investing thinking that they would turn into the next worlds largest auto parts manufacturer and turn my measly $350 investment into wealth beyond imagination. When I bought the shares I figured the market was just a crapshoot so why not throw some money that way. As you can tell I've now decided what kind of investor I'm going to be and have actually done quite well, I just wish the stock market would have a good pullback so I can get better entry prices. I figured it was time to go on and sell despite their earnings announcement next week to make sure that I can get the loss to write off against my short term gains from my option selling. All in all, I found a great way to turn $346.95 into $190.05 in less than a years time. That's not exactly the best way to go about investing. Now I can put that money towards a much better opportunity. That's one more lesson learned, thankfully it wasn't a really expensive one.