If you care:
by approximately 100%[margin].
I knew it!
A gambler!...and you question the techniques of proven traders. Sounds like you need more than just a math lesson. ;-)
Absolute pure gambling. That is - with my brokerage account. My IRA and Deferred Comp accounts are very well diversified. In addition I have a government pension. I also have low expenses and high income, so I can (and have been) paying down margin - but wanted a strong position at the beginning of the year.
1/2 of this total portfolio was in TDFX.
And of course you put most of your equity in the one and only stock that really moved....the others you just bought a few token shares. Thats good money management alright...put the majority of your equity in one chance stock.
It was my opinion that TDFX was a sure thing. I use the card, and when I called around to ask my friends if they heard of the company - they all owned the same cards. But, yes I took a big bet.
And I sold CNCX today (probably a mistake)
Why did you sell if you think it was a mistake?
Did the fundamentals change?
Gut feeling? Hope?
Did you tea leaves say sell?
Or was it your crystal ball?
I can't wait for the answer to this one.
What I mean by "mistake" is that momentum investors might still bid the stock up. Also, takeovers in the ISP market could propel these stocks much higher. I sold based on the fact that volume has begun to dry up recently, I have already traded extra shares for significant gains, and my base shares were up %25 since my purchase shortly after the IPO. Since I personally believe cable modems will eventually kill modem based ISPs... I don't think I could stand owning CNCX for the long term. Also, recently I e-mailed the company asking them when they would upgrade to V90. A week later, they sent me back a curt e-mail about how they will be upgraded to v90X by the end of the year. No mention about how important my satisfaction is, etc, and how sorry they are, etc. I know AOL has made billions using this technique, but still - I wouldn't feel good about sticking it out with this kind of company for the long run - thus, I'm out - for good.
PS: Looking at the archives this year, I noticed that you Averaged Down (a big no no with any stock...and you did it several times) ATCT in January.
exchange2000.com
When did you first get in? When it's current down-trend started at $26.00?
I noticed it closed at $1 1/2 today. Sorry to hear that.:-(
Anyway....Your first lessons in TA:
IN my brokerage account, I bought 387 shares at 7.75. That is the only shares I ever bought in that account. I sold them this year to take the losses to offset short term cap gains I have incurred by trading GLM, CNCX, COMS and INTC. (I also forgot to mention I had bought April 85 calls when INTC was $68 and dumped them when INTC was first running up to $89 - Thank you INTEL)
In any case, I have been taking big risks which end at the end of this month. I believed that the new Roth IRA would cause a huge runup in stocks over these months up until April. I even made wagers with friends that the DOW would hit 9000 before July 1 when the DOW was 7600. I might have lucked out on the reason, but DAMN I was right about the direction.
Now, as planned, I am winding down my positions. My last unknown is 3COMS earnings release next week. Because of the article I read in the IBD, I am guessing earnings will be good, and the call positive.
If I don't like this Qs earnings, I might sell out of COMS for good in my brokerage account. (I still have 200 shares in an IRA)
One thing you are right about is ATCT.
ATCT has taught me the short-term dangers of averaging down - but I still own about 800 shares in my IRA. Average cost now is about $2.25. As long as it gets to $5 within the next 3-5 years I will be happy. If not - oh well - I understood the extra risk with hopes of extra gains.
Hope this helps. |
