Yesterday, I saw the doji formation on $PACB above the 79 & 89 moving averages; so without hesitation, I bought back $PACB. I did not hesitate simply because when you have a doji formation at the bottom of a downtrend near a support area, the odd (or probability) of a turnaround is high. No, it is not 100% but the odd is in your favor. So, like a blackjack card-counter who sees that the undistributed cards are stacked with 10s, Jacks, Queens, and Kings, he starts to bet big. In my case, I simply bought back my position.
I also added more in the early morning because of the upward bias.
Look at the beauty below:
Notice that I’ve been cutting losses on $PACB during the previous downtrend to cut loss and yet here I am back on the saddle riding the rally up. If this doesn’t convince you the value of cutting loss fast and the fact that cutting loss earlier doesn’t mean you will miss the boat (not all the times; but some of the times), I don’t know what will?
My 2 cents.