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Datamatics Global Hits Stop Loss. What next? - Views on News from Equitymaster
Profit Velocity
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Datamatics Global Hits Stop Loss. What next?
May 17, 2017

A lot of you would be aware that in addition to Profit Velocity, I am in charge of another service called as Microcap Millionaires (MCM).

It is going through a fantastic winning streak so far.

Of the 28 positions closed, only four have been closed in the negative.

What do I make of this streak? Am I happy? Yes, I am.

But to be honest, I am more concerned about whether we are following the right process.

And as long as we are doing the same, winning or losing streaks, gains or losses don't matter at an individual level.

What matters is how the overall service has done or will do over a large number of trades and over a long-term horizon.

Do What the Process Says

Well, this piece of wisdom will hold us in good stead as we evaluate the performance of Profit Velocity so far. For unlike MCM, this service isn't off to the greatest of starts.

For as we speak, Datamatics Global Services Ltd, one of our first recommendations, has hit its stop loss.

The stock is down 21% from its recommended price and has breached our maximum stop loss percentage of 20%.

As far as we can tell, there seems to be no visible change in fundamentals.

Perhaps the stock is a victim of bearishness towards the whole IT pack in general and has therefore been in a steady downtrend for some time now.

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