Quote:
Originally Posted by James OLC
Yeah... I hear you buddy... I'm just not good at (a) change and (b) stuff I'm not hands on with every day.
I do have some gold and minerals (mining) in the portfolio but they are not dividend paying stocks and I bought them for tax purposed more than anything. I had some conventional golds in the mix but some of them funded the OLC build back in the day and the entry point seems a bit too tenuous at this point...
I also have a green tech stock (gasification tech) that is my "stock I love to hate" but never seem to do the right thing with. I first bought in about 5 years ago at $2 about 6 weeks later than I should. I grinned when it went to $3 but held on because I was drinking the kool-aid. When it dropped to $1 a tried to ignore it and when it hit bottom around $0.5 I (somewhat reluctantly) averaged myself to something that made sense. I then grinned last month when it to $0.8 but again... I held on... no... I don't know why why... Today it's back at .5 (dammit .475)... It's been a "good learning experience" but that's about it.
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Oh -- If you read this thread - you'd think everything I ever touched turned to gold.... HA! Far from it.. the key is to have more winners than losers because we are ALL going to have plenty of losers. It's just part of the way the world turns.
Back about 15 years or so ago --- I used to do more "trading" - not day trading but just lots of "movement" in and out of stuff. Sort of always chasing the flavor of the month (or week). I had enough dough that I USUALLY could buy my way out of a bad investment - and by this I mean - I'd average down the position. So newbs -- please don't do this - but here's what I'm talking about.
Say you bought 300 shares @ 10 and then went down to 8 - so you'd buy 300 more @ 8 - this gives you 600 @ 9.... so "on paper" at least you're current cost is closer to where it's trading... then let's say she's holding at 9 - so you buy another 600 @ 9 -- now you have 1200 @ 9.00
So the "theory" here is that I'm now holding the shares that are closer to the current price -- Works great IF -- BIG IF -- they come back to $9.50 or so and you can then scale out..... BUT -- BIG BUTT IN THE ROOM -- They can also (more likely! LOL) continue to decline -- so you buy even more...
Short story of this kind of idiocy - I lost 93K in one name and only lost $1 per share! The "first loss" I was trying to buy my way out of was maybe $5 grand....
But this "method" had worked so well for me in the past that I just kept chasing it down!
And - it is too long ago to remember - but my guess is -- a half hour after I sold and booked the loss -- the little man on wall street hollered to his buddies "The Dumbass is out -- take her up"!!
It never fails.
So the minute you sell your .05 shares - the next week they'll announce an all cash buyout of $15 a share.
