Sold off 65 shares of Facebook at $268 last night. Sustained a loss of about USD $600 or about 3%.
I cannot resist complaining about how Facebook rose 3% in late night trading. That was worth about USD $600, good enough for 20 nice meals. That’s the trouble with trading US stocks, as its difficult to stay up late. I have to make my moves in the opening hour. As much as I’ll like to stay up late to watch the market and prices, it really affects my sleep. Getting old.
Selling Facebook was about reducing margin, and this should drop me to about $187,000 in use. I would like to reduce that to about $100,000 eventually. Still believe Facebook has plenty of potential, but with the incoming government lawsuits and its stagnant performance for the last few months, I’m alright to let it go.
I’m also not a fan of social media, which has a mindless and negative effect on many people. I started investing in it because I saw how dominant it was, both in Facebook and Instagram. But I’ll like to move towards investing in themes which are obvious societal goods and with less regulation risk, such as cybersecurity and genomics.
The next risk to the market is the upcoming runoff elections in Georgia on 5 Jan 2021, which will affect the senate majority. If the Democrats pull off a surprise win, I would expect the market to go down. I will probably lighten my holdings a bit more before that.