Oh yeah ... i know what you/they mean, and heartily agree ... and I do cut my losses generally when i have any sort of significant position ... thing is, though - i also have a collection of small amounts of little speckies i've picked up along the way .... gwx is one of them, it's a pet in the sense that i've bought a few and then followed the story for lo these almost-three years ... not because i really give a damn ... although starting the freakin SI thread does somewhat put my ego on the line, i suppose ... but that's so oft-wounded and scarred-over, who cares -g-
Overall, averaging down has gained me more than it's lost me ... Winspear being a prime example - while i had been trading it since summer '97, i did keep a core position and average down in the .60s and .70s 13-14 months ago ... and ended up glad of that, took twice my capital off the table and i'm sitting with free shares.
Another one was pfg - averaged down and got out with a healthy profit, now i'm watching for a possible re-entry point.
Didn't work as well with Kinross, but averaging down did allow me to get out with a tiny profit on Thursday - i might have dumped a week earlier at a .30 loss instead.
A friend has been averaging down on dmw in the .16-.20 range, from an original base way higher ... it would be stupid to dump at this point, imho, [though clearly he should have done so higher] [but that's so easy to say in hindsight] and i think he'll do fine on it, i've been buying dmw lately myself.
But you sure can accumulate a wallpaper collection that way, too -g-
Friday I noticed some punter putting up five grand on the gwx bid at 1.06, then got thinking about bidding 1.07, even briefly considered taking out the 900 at 1.15 in some sort of hope of a post-rollback dcb ... but then asked myself - What has this outfit done for me lately?
And i just didn't have a good answer -g- ...... cheers |
