A counter trend start to the day after the open, probably something to do with earnings season. After yesterday’s afternoon post, I rethought the IWM/TNA situation, decided it was worth a shot and took a position in TNA.
I used to always buy 100 shares, but that is wrong especially when commissions are zero. The issue with 100 shares is that’s $9K for 100 shares of TNA. Winning a few grand is nice but, for me, the high from winning is not greater than or equal to the absolute value of the annoyance of losing that much. Not only that, but a hit like that will make a dent in what has been a good month. I bought 10 shares.
The headline of a recent article on VYM on SA recently had the guy saying something like both he and his wife were buying serious amounts of VYM. Somewhere deeper down, it was mentioned they now had about 100 shares.
Proper position sizing is real important.