Sold my Harley Davidson Shares at a Loss

I’m very disappointed in Harley Davidson (HOG). Not only because I lost money owning this crap stock, but I own 2 of their motorcycles lol.

This is another example of losing money when listening to other people. I don’t blame anyone for me losing money because I do my own homework. However, I did do homework on this stock back in May because of a report I heard about unusual activity.

On May 17th HOG was at it’s high of $52. I saw a report on unusual activity and the gurus of CNBC felt the stock was going up further. If you look at the candlestick chart before May 17th, they had a good case. So I bought 200 shares as a Grasshopper Trade. I’m hoping none of you got into this position with me! I bought 200 shares and sold a 2 contract Call. Since then the stock did nothing but go down. And it’s still going down. I did bring in a number of premiums but not enough to cover my loss.

 

5/17/21 – Buy 200 Shares HOG @ $51.10

9/21/21 – Sell 200 Shares HOG @ $37.00

Loss -$2820

Not only did I take a loss but I feel it’s a big loss for only holding 200 shares.

There’s one thing you must remember about unusual activity. When you see the report on how many Calls are being traded it doesn’t tell you who initiated the trade, the buyer or the seller. If Call trades are initiated by sellers it would tell you if the unusual activity is caused by bears or bulls. In the case of HOG, if you look at the candlestick chart after May 17th, It’s clear the bears were in the house!

Another reason I dumped this stock, other than it’s a loser, I continue to liquidate my funds for my Day Trading. So far I’m doing well and hope to make it part of Main Street beats Wall Street soon.

If you are playing the Microchip split, there was a great opportunity to get in today.

 

Successful trading,

Steve

The Options Coach