Sold CVNA

I sold CVNA today... Did you even know it was in play?

In this episode of the Painless Trader podcast, I provide an update on a recent trading position we discussed regarding Carvana. After monitoring the stock closely, we initially saw a promising breakout that led us to enter a position. However, as the days progressed, it became clear that this breakout was not sustainable, and the stock began to move against us.

In light of this development, I made the decision to close out the Carvana position this morning. I want to emphasize an important principle of trading: we are here to date stocks, not marry them. This means that if a stock starts to move in an unfavorable direction, it's crucial to cut our losses and exit the position. There are always new opportunities on the horizon, and it's essential to remain agile in our trading strategies.

As I wrap up this episode, I encourage all traders to stay vigilant and adaptable. Remember, the market is full of possibilities, and sometimes the best move is to step back and reassess. Happy trading, and until next time, this is Painless Trader signing off.

00:00:00 - Carvana Position Update
00:00:11 - Breakout Failure
00:00:22 - Closing the Position
00:00:30 - Trading Philosophy: Date Stocks, Don't Marry Them
00:00:40 - Looking Ahead: New Opportunities
00:00:50 - Closing Remarks