Dear Reader,
Reporting from our Ohio office, today I want to talk about Palantir (SYM:PLTR).
A lot of readers have been writing in to say, “hey – what should we do with Palantir?”
We originally recommended it around $6-$7 a share and now it’s around $37 a share.
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So readers are saying, we know the market’s really high and we’re bracing for trouble ahead, risk is up and this stock has gone so much higher, and Peter Thiel just sold $1 billion worth.
You know, I can’t give individual investment advice, but I do want to share with you this personal story…
When I was younger, working on Wall Street I owned a big, big position in a stock that was keeping me up at night.
This was when I’d been in the business five or six years.
Every time I went to sleep, I’d wake up in the middle of the night with anxiety about this position.
I told one of the older traders what I was going through and he said to me, “sell it down to your sleeping level.”
This proved to be great advice.
So I would tell anyone, if you’re not sleeping at night because your position is giving you anxiety, sell it down to an amount that allows you to sleep.
What this means to me is if I have $100,000 in a stock and it’s giving me great anxiety to have $100,000 in it, I like to come up with a number where it wouldn’t give me anxiety.
Maybe that number is $50,000.
If I have $10,000 in a stock and it’s giving me anxiety, maybe that number is $5,000. Or $2,000. Or $1,000.
Sell it down to a number that’ll give you a good night’s sleep.
Especially with Palantir! Because, let’s face it – this stock is up 400%, 500% in the last year and a half?
I mean, my goodness, how much higher in the short-term will it go?
I’ll remind you, this is one of our long-term core holdings…
It is something I’m going to own in my kids’ accounts and my own account, forever.
That said, Palantir is a small percentage of my total holdings in terms of my personal position sizing.
This is one I will hold forever… that I love as a company… that I think is not only a great company but a great business, and I think what they’re doing is important for America.
But again, I’m by no means “all in” on this one stock.
If I owned so much it was giving me stress, I would sell it down to an amount that made me comfortable.
Another rule of thumb that you might find helpful that I use sometimes: I take my principle off the table.
So, for example, if I invested $5,000 in something and the stock has gone up to $20,000, I often just take off the principal – sell $5,000 worth.
Or, you could take off your profits – or half your profits. Or sell half your position.
The point is…
If a stock is giving you anxiety, then you probably own too much of it.
If that’s the case, I urge you to sell it down to a level where your anxiety goes away and you get a good night’s sleep.
Now, Palantir is just one of the defense stocks I’ve recommended.
I just released two brand-new ones.
Our last “buy alert” this time-sensitive is already up 160%…
That’s on top of the 414%, 131%, 120% and 106% we’ve seen with other defense stocks.
The only “catch” is that access to this alert expires in 48 hours… these opportunities move fast.
Please check this out while you still can.
“The Buck Stops Here,”
P.S. This trading strategy is perfect for beginners because it relies on a clear signal to tell you when to buy and sell. Visit here to learn more.
