Hi Mark,
Was so good to hear from you. While I know your job is demanding and that's where you need to focus your time, I don't remember you being away from the board for so long. Hence, I was becoming concerned that something had happened to you. Glad you wrote to all of us.
I know you are good about setting stops and that often protects you; however, when it opened at .90 I knew you had to get hit hard. I got hit too, but I wasn't holding all that much compared to you.
You offer some good points, especially regarding holding a basket of stocks. I do think the bios/pharms are more risky and as such we probably are better off never loading them.
As for under $10 stocks, you may be right in general, but I'm sure many can name higher priced stocks that tanked too. Besides, many times the greater the risk, the greater the chance for profits. Right off the bat I can't remember any $20+ stock that doubled or tripled in a day, yet I can think of several of the ones we play that do. Regardless, we all have to do what we are comfortable doing and what enables us to sleep well at night. I still think back to how lucky I was when I had like $63,000+ in GNBT and there was no bad news that sliced it 50%+ like our VION. Hopefully I'm wiser now and won't do that again.:)
Currently I have close to 9.5k LMRA. I think we have a good pick there and if held, I believe you will make up your loss on VION plus a healthy gain. I liken LMRA to JADE in that JADE hovered around the same price forever. I got so tired holding it that I finally sold it for a small profit and within a short time later it almost tripled. LMRA has tested us over and over; however, I keep a core position and trade a small amount for I want to be in when that move happens.
Again, good to hear from you and you are doing what's important. Do try to touch base here when you can though for we miss you and your posts.
Lexi |
