Victor:
Down another 9%. ugh....
All depends on your point of view.
If you bought at yesterday's close of $6.53, it's true that today's $0.56 loss leaves you down around 9% for the day.
But if you bought at say $25 or so (like many here), you're only down today 2.25% of your original cost basis, nowhere near as bad. If you bought at the IPO price of $38, your loss today is only around 1.5% of your cost basis. And, if you were lucky enough to have jumped in on IPO day in March 2000 at around $165, your loss today is a miserly 0.34% of your cost basis, insignificant IMO. In fact, I think I can make a case for buying all stocks at as high a price as possible, that way, any single day loss like today's can be reduced to levels that cause not a whit of care.
And just think, when PALM finally turns around and puts on say $1 or (if the Wall Street vultures will allow it) even $2, think of the reveling we can indulge in from a 17% or 34% single day gain. I can't wait!
"You must remember this, a loss is just a loss,
A gain is just a real old pain........."
Here's looking at you kid.......
David T. |
