OT: ZTECT, my version of WAVX is AXC. I've made (and taken) $86K on it so far, but I'm now about $40K underwater on my current AXC speculation. Of course, this is only a "temporary" situation, and the stock is a "definite bargain" at 1 7/8 giving us another "opportunity to average down," again...
AXC is also a "real" company with over 50 years of history, and has actual revenue streams in the millions, unlike WAVX. But no one likes to be in the hole...
The good news is I don't use margin, having been burned once a couple years ago. So, when I finally decide to sell my AXC (above $6, of course), it will be because I choose to and not because I'm forced to.
The PNLK community here has similar aspirations (although I suspect the hard core longs have much higher expectations for the share price then I do). The company is more than an investment vehicle for a lot of people - it has become part of the investor's psyche. I know that sometimes it is more important to be RIGHT than it is to make a lot of money - epecially when you have been stuck with a loss for a long time. That is one of the reasons that people sell for a small gain after having been in the hole for awhile - they need the win, and fear a reversal back down. So they sell just as the stock starts to really take off, unable to get the big payoff for their months/years of patience.
PNL affects me that way. The possibilities are SO great, but the reality has been very uncomfortable (At this point I can almost hear a couple people on this thread saying "If you are so uncomfortable, sell your shares and go away!").
But, I like the PNL concept. And yes, I'll probably buy more shares when it goes a little lower. Averaging down again, you know... And sooner or later they WILL complete the financing deal, right?
RR |
