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Technology Stocks : Stock Swap
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To: Trader X who wrote (339)2/20/1997 11:15:00 PM
From: p. webster   of 17305
 
Re: Averaging Down

The first time I averaged down was during the sell-off due to the Gulf War, and I was very much a novice. I said to myself, I may be throwing this money away. But I've got to try it. I was only doing utilities at that time, so there was some safety. It is really hard psychologically to put money into something that has already lost you money. The shares that I bought at that time have a basis of 7 now, due to a split, and the current price is 20.
Sometimes you just have to try things and see what works for you.

P. Webster
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