Well, I’ve ridden ARCB(previously ABFS) from below $7. Pared the position along the way, and even sold some calls yesterday feeling pretty smart. What a difference a day makes…And they barely missed on earnings and beat on revenue… Mr. Market is far smarter than me.
The best part is just yesterday a client called saying it was time for his large yearly donation to a foundation, and, of course, I recommended using ARCB for the donation given the large capital gain. The advice still applies, but what do you think he is thinking? This position alone has taken his sma down more than a percent today, of all days. The account, otherwise, is holding up pretty well. Love putting the largest daily single position loss in a long while front and center.