The limit order was just one dollar short, and I missed $Oracle(ORCL.US) at 271😭 Actually, I wanted to buy when it dropped to 275 a few days ago, but it went back up the next day. Let me casually talk about my buying logic.

I think we should look at a stock rationally, understand the fundamentals and the support behind its price, and form our own buying logic. This way, even if we get trapped in the short term, we can hold it patiently with confidence.

Oracle is already a stock with a market cap of 600-700 billion. Due to the earnings report, it surged up to 43% overnight. It’s obvious that the next trend will be a pullback, with repeated fluctuations to consolidate the severely expanded bubble. So on the day of the earnings report, I didn’t hesitate to liquidate my long position and go short.

But after this period of adjustment, the price dropped to a low of 271, only about 5% higher than the previous high of 260. Calculated from the pre-earnings price of 241, the increase is 13%.

With Oracle’s earnings report + the $300 billion Open AI order expectation + the significant stake in TikTok, is a 13% increase excessive? I don’t think so. And from a long-term perspective, it will eventually return to 345 or even hit new highs, so I went long again.

Of course, the cheaper the chips, the better. It would be best if it could return to the previous high of 260, but breaking through the previous high has resistance, and falling below it also has support. It’s quite difficult to wait for 260.

Moreover, building a position starts with getting trapped. Only when you’re trapped do you get the chance to average down, and the eventual rebound can bring greater profits. So I set a buy-in price of 270—if it rebounds, I’ll trade intraday; if it falls below 260, I’ll average down.

Unfortunately, I was just a bit unlucky twice. I hope I can successfully catch Oracle next time. 🙃