Yes, bought a smaller than small dabble of GBTC.
My plan is to add if/as the thing moves up, if it does.
My problem will be if/when it drops. One thing for me to say, well, if it goes to zero, I'm out a few hundred bucks, no big deal. On the other hand if it starts to drop or drops suddenly and before I see any gains, or especially after I have a paper gain, and I turn around and now guess I should add a few shares at a "better price" and I do add, and it drops further, and I add more at this new "better" price-- all the while not knowing what I have or what I am doing -- and then do this a couple times more as the stock falls... well..... I have been in this boat before... I wake up one day and realize I'm down $thousands with no inkling if I'll get myself out of the losses.
As I've said before, I like to know in advance of my buying what I'll do if the stock rises or drops after I buy. For value stocks, I'm usually buying when the stock is dropping, so I will want to add (assuming no adverse news has come out). For these spec stocks, I will want to buy more if the "thesis" holds and that's supported by the stock moving up. Although as I just also kind of said, I pretty much don't have the courage/knowledge/confidence to do this in a significant way or even at all sometimes. |
