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Steve Lugar asked 4 years ago

what were your reasons for lightening up on nio

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Avatar photoOwen Staff answered 4 years ago

Hi Steve,

We were selling some into strength. With the natural ebbs and flows of the market, it's not unusual for a stock that has had a strong move to the upside to pull back a little.
What we don't want to happen is for us to get into a trade, have the product climb a few handles and the reverse causing us to sell at break-even or even a slight loss. So we sell a little into strength which gives us some cushion in the event we see what we are seeing now with NIO as it pulls back into the low 21s.

Steve Lugar replied 4 years ago

thanks

Steve Lugar replied 4 years ago

thanks

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Avatar photoOwen Staff answered 4 years ago
We sold down to a 50% level within the last hour because NIO is not pushing through to new highs. With a market trading up 135+ on the day (COMP) NIO is not participating in that move. So we sell a little more, at a profit, and reduce our exposure.