Selling a stock is MUCH harder than buying one. Ideally, you should have a strategy in place before ever buying, that way, its simply a matter of following thru with the strategy. Easier said than done though, since as a stock rises, human nature and 'greed' take over.
I'm one of the battered IOM stock holders who saw his net worth climb substantially in a short amount of time only to watch it fall right back down to where it started. I never sold a share, margined all the way up and got killed on the way down. That experience, although very painful, taught me two lessons: 1) never buy on margin and, 2) take some profits off the table when you've hit a home run or better on your investment. Yes, you may not realize the maximum profit, but you also won't lose it all in the case of a stock crash.
For a lot of us, that home run is near, if not already realized. With Wave, I'm going to have a tough time selling myself. The company has enormous potential and all the hard work looks like its about to pay off in a big way. This coming week will make my decision much easier. If all the ducks line up in a row, I'll be tucking this one away for a few years. If not, I'll probably sell enough to take my original investment off the table and play with other peoples money.
Good luck... |
