Grimmey
To recap> We stated that we put the positions on shown below based on your humping MU so passionately on this thread.
The only subsequent recommedation that you have issued thus far has been to average down. There's been no recommendation to sell the MU position, so here's how we stand after a week of following your advice.
12/3/96 Bought 1000 MU @ 37
12/4/96 Bought 1000 MU @ 34 1/4
Total cost, including commissions $71,310.00
Value of position on close, 12/6/96 (2,000 MU @ 33 7/8):
$67,750
Assuming we closed this position today, that would net a loss of about 5% ($3,600 including commissions on the sale) in 4 days. And its only 5%, not 10%, because we "doubled down". But we are holding on (by default, stemming from your silence in the face of requests for instructions and falling prices). And hopefully all on this thread will stay tuned, and enjoy this real time demonstration of your performance.
We will have to consider closing this position if the losses reach 10%, and will no longer consider it, but will act without hesitation, if the losses reach 15%. Your comments about cutting our losses in this way, if necessary, are welcome. Any other instructions about what to do with MU (not SIII or IBM or MRK or any other position) next week are also solicited.
By the way, are you a long term investor, an intermediate term or day trader? I suppose this question should be asked before money is plunked down on your advice.
I don't know, Grimmey, but if I were a cynic, I might think you were a shill for Simplot & Co.
Good luck to all, and especially subscribers to Grimmey's Market News Service.
KH |
