<Those who caught this knife at just under 10 are already close to 30% underwater on this. Looks like newbie investors are learning some age-old lessons all over again!>
Big deal. If they are investors, then their time frame is longer than a month. If they are speculators they've traded the whole way up and down.
I don't much care what the price is today, because I didn't buy it to sell today or tomorrow or this year. I don't like the price, I would have preferred that I hit the exact bottom, I would have preferred to have gotten the lowest bid ever. But I'll just have to be satisfied it was bought during a period of intense negativity, and is to be held until such time as the sentiment has reversed completely and for a lack of a better example you are here saying buy because the coast is all clear and all is rosey.
As for the age old lesson. I believe that is buy when everybody else is either in a panic or everybody is trying to incite a further panic.
So you incite a panic right on. You drop little I told you so frets on a board here or there. You worry for me all about it breaking 7. And you keep finding some need to post updates to me. Just whatever man. 7 it is, maybe 6, maybe 5, maybe 4, just don't care. It costs $10 per round trip to trade a position down as necessary, not doubling up, carefully trade what you have down as long as sentiment is down. 10 cents is enough range to make it worthwhile. Buy, get a small profit in a short term rally, sell, repeat. All the time keepng close tabs to make sure you end the day, week, whatever with a long position. Wouldn't touch JDSU at 60, 50, 40, but I will maintain a long position anywhere under 10 regardless of what the price is at 3:37and 52 seconds PM on Aug 21, 2001. All in all that nanosecond price is irrelevant except for a quick trade, which is not the purpose of this investment.
Every trade since the intial position, every flip for a profit, every buy low sell high, buy lower, lowers the risk. JDSU is a position I wish to hold long term, but is currently necessary to trade for safety due to sentiment and general speculator going below 7 bs from the likes of you. All in all, considered as a whole, owning JDSU from bought various times recently under 10, 9, 8, leaves me profitable even at $7. With Aug 10 Covered Calls just expired. And Sept 7.5's just closed for a profit. Etc. All entered right back into the spreadsheet titled JDSU with subheadings of Initial cost, Trade profit or loss, and Current cost of Position.When Current cost of Position equals zero or very near zero, I really, really truly, don't give a sh*t what todays price is. I want the company to function, rightsize, layoff, align cost to the current level of expected future sales, close plants, do some R&D, develop some new products, clean up the balance sheet, in general conduct business in a ongoing forward profitable manner. When those things happen I will pay very close attention to the stock price as it rises. Until then its all noise to me and your station is blaring the loudest.
Good grief. If you are going to post. Post something useful, other than updated quotes, and a tally of the most recent percent change. Do you think no one has a quote service or can count and divide?
So basically, find someone else to post the daily price update and percent loss from $10 junk too, I'm tired of it clogging my inbox. As I'm sure you quit reading this reply already. |
