r/wallstreetbets
The easiest trade was SpaceX. Now comes the hard part.
Author took profits on SpaceX IPO but kept a position for momentum, now looking for overlooked stocks.
- Momentum can stay irrational longer than expected, keeping the upside alive.
- Market focus on one IPO often creates hidden opportunities in overlooked stocks.
- The easy money has been made; the next phase is the 'hard part' with higher uncertainty.
- Taking profits indicates a belief that the immediate upside might be limited or risky.
I took some profit on SpaceX today and rolled part of it back into the position. Not because I think I know where it goes next, but because momentum can stay irrational longer than most people expect.
What I’m more interested in now is what got ignored while everyone was watching SpaceX. Whenever the entire market is focused on one thing, there are usually opportunities hiding somewhere else.
I’m spending the weekend looking through stocks that got sold, overlooked, or simply forgotten while all the attention was concentrated on the IPO. Maybe there’s nothing there. Maybe there is.
Either way, I’d rather spend my time looking for the next trade than arguing about the last one.