a successful short trade of fmd, sold ahd, bought bbep

Yesterday, market had a big drop, but I do not feel much panic in the market, there is no plunge near the close, which comforted me. I believe a market correction is coming, every time market drops, discussion at "中長期投資“ group becomes active, but yesterday's big drop did not bring much discussion. As for FMD, FMD is at a perfect sweet spot yesterday, it is right at 200 moving average line, it had corrected one time already ahead of general market, also I believe that its market cap is less than cash at company, which makes me feel safe. I decide to bet on a bounce yesterday near the close. I bought a large position of fmd at 1.72 at asking price, then I put in a sell order at 1.79 before I went to bed, I woke up before market open, (I have not done this for a long long time, since health is more important), there is a good news there, saying housing starts leaped by 17.2% from April to May. I had a look at fmd, oh, my god, fmd is already trading at 1.79 pre market. I opened up my account in a hurry, my order was there intact. I quickly increased my selling price to 1.82. I stayed around for a while, then I went back to sleep. When I woke up again, FMD was trading at 1.88. I am relieved that everything went as I planned.

The market was only up a little at that time on the back of yesterday's big drop, which confirms my thought that a correction is coming. I immediately sold ahd at 5.15. two reasons: first, there is no more dividend from ahd, they stopped dividends, second, the guru, Seth Klarman, sold out his stake in ahd, apl, it is time for me to move on too. Seth Klarman added to his position on bbep, another oil and gas partnership, so I bought 100 shares of bbep at 8.5 to start the journey today. I did not sell apl today, since it still gets me dividend, second, NG/energy price usually will peak around hurricane time, we are still early in the summer.

Finally, I am very pleased to see that ago had a big drop today, currently down 11.87, 13%, I have been lightening up on ago as it climbs, I have been calling myself a dumb head. Now I am released, I am ready to get back into ago, just not hurry. Patience is a virtue.