Joe, it has been great humor to watch you so passionately explain your feelings regarding your purchase at 28 and then again at 22 or so.
Trust me, any of us who have traded for many years have "been there done that" many times before. It is through pain (and losing money) that you can learn valuable lessons and wisdom to carry you further in life. If it is painful, then you will develope a sense of protection that might prevent you from experiencing the same pain again.
I may be wrong, and don't predict to hold the vision for the future, but it has been painfully clear to me, (as a so called experienced trader) and one who made money from APCC at a much lower value, that APCC was overvalued at 28. When the stock dove down to the 19's last week it also was clear to me through my past experience that it would attempt to bounce back and "sucker" people back in. It now appears clear to me that this stock is headed lower, and as I stated in my previous post a few weeks ago I plann on averaging down with this stock when or if it hits the mid teens. It might not happen, but this is my own percieved value of the stock since I owned this stock just 6 months ago at 10.
Another lesson that I would like to pass along about "vaules". When the big boys decide to move, "our values" as we see them don't necessarily determine squat. We little traders, under 500k can't do much to move the market. When the "boys" move their big blocks all fundamentals are thrown out with the dirty bath water.
Joe I am wealthy today only because I lost alot of money at one time in my life. However I learned from my trading and you too must pay your price and turn this into a positive. You can either talk about law suits, or burning down APCC and spend the rest of your life getting it from the rear, or take this experience for all it is worth and become a better trader.
I also suggest you cut your losses now, if the stock goes down like you think, then you will actually make money in your mind, because you will be right. You can feel like a hero if you cut your losses at 21 and watch the stock go down to 15 or so.
One last piece of advice, don't take advice or a tip from anyone, including me. Make your own decisions based on your own convictions, but don't be afraid to admit you were wrong. Admitting you were wrong and cutting your losses can be the first victory for many traders.
If you are a long term trader (5 years or more) then I wouldn't be watching this stock except for once a week at the most. I like most on this chat love APCC and the future prospects for the company. If you are trader watching the stock every hour (or minutes) then you are very likely to die a painful and slow death. I played options for years and some of my best nights were after expiration when it was all over and I had zero value left in my account, at least I knew that the pain was over and it coudn't get any worse.
Keep your comments coming as I am sure I speak for most that we enjoy watching you experience your trades. |
