RE: Averaging down....
Hi Laura,
I occasionally average down, but my average is already fairly low on ME anyhow. With a lot of the lower priced penny stocks, I just pick up as much as I want at a price that seems "comfortable" to me...and then hold and try to be patient. I always figure that if something really good starts to happen, I can always pick up some more as I see things starting to move... If the story turns out to be really good, my purchase price won't really be that big a deal... We don't know the outcome of any of the news on ME right now, so I'm sort of in a "wait and see" mode... as far as adding to my own position... However, I WILL be watching the news and the trading closely for signs of a "good story"... if I see anything, that will be the time for me to add to my position... Just an opinion...
OFF TOPIC (On Moneta): Perhaps others would like to comment on strategies about averaging down... I don't like to do too much of it because you can end up chasing a stock right down into the ground... and then just end up losing a lot of money and commissions instead of just a moderate amount. It can be useful sometimes if you really know that a company has the goods, the quality, etc... and you see the lows as a real "opportunity"... However, most of the golds are pretty speculative... I hate to even say it... but almost like buying lottery tickets... even when you have done your DD...(-: I'm long on a few picks that I like... but actually I am more into flipping stuff on momentum... And THAT is a whole different kettle of fish!!! Anyhow, perhaps others will care to comment... It is an interesting topic for discussion... and this thread could use some "activity"... so I would certainly invite any responses... (-:
Regards,
Bev
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