Buy,Sell,or Hold, average down? Message Board

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Gold/Mining/Energy : Buy,Sell,or Hold, average down?

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To: Ron Pitts who wrote ()	10/31/1996 12:04:00 AM
From: Steve Fitzpatrick	of 26

Personally, I hate buying in the distribution phase. You just don't know when you're buying at the top of the market. If I really like the story I take a small position and hope to make a few bucks in the ride. But when the sizzles gone and the stock heads south with really no change in the story, ie no drill results, nothing proven yet I'll tend to hang around and even buy more to lower my average price. Even if I have to wait for 6 months o r longer, eventually. another promo will be necessary to finance operations and then, you can sell for a profit at a lower price than your original entry price. Seems to work for me. Buy some in the dips, Sell some in the spikes. Any other strategies out there? Cheers, Steve

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