A story of success... to be continued...It all started in March 2017...
Looking for a place to invest my savings I scoured the internet's stock screeners for a place to park some of my money. I discovered a company that looked like it had great potential. Without hesitation, I pulled the trigger and spent 50% of my capital on this one stock. At the time I paid $1.74 a share and thought I had a good chance of doubling my money.
Well to my dismay, things started to go badly. The stock dropped and dropped, and I was worried I would lose a signifigant chunk of cash. The selling pressure a lot to take, and I was on edge because I had never made such a signifigant purchase in all my life, only to find out it wasn't the best decision.
I didn't cave to the pressure however, and I held on... despite advise to get out and take the losses as a lesson to be learned. Well, I thought, here I am young, with a good position and a chance to make money without having to work to hard for it. So I decided to buy more shares. At a low price of $1.20, I invested another 25% of my capital, to lower my average share price.
Well, I stressed out about this decision for the next few months until June 2017 when the pressure to sell was greater than ever before. The stock dropped to a mere $0.79 and I was down about 40% and thought I was going to lose it all.
I watched copper like a hawk at this point, and I read news about China's economy every day. I saw a glimmer of hope on the horizon.
I work hard and long hours and make a decent amount of money, plus I am a good saver. During this time of worry while I lost a lot of my Net Worth, I continued to work, make money and save.
Now despite all of my best judgment, I had a gut feeling about this stock and I've read many times that when people are scared, you BUY!! So, that's exactly what I did. I dumped all of my extra cash and savings into my stock broker and I bought as much of this stock at $0.79 that I could get my hands on.
Well now I was really on edge, I was still down a lot of money but I managed to get my average price below $1.00 per share, which I thought was pretty good with the huge potential that copper would make a rebound.
Copper did make a rebound, and it went all the way up to the $3.20 a pound range! Capstone went to new highs. Things were great! At the time, I was on vacation and the stock was soaring. I was making money every day while I travelled around.
In September I had to go back to work, and the hot copper market started to cool down. The stock price slipped down to $1.20 a share again, I became a little worried... because I have so much invested into this. But I am young and have time on my side, so if I lose everything I can always start again. Luckily, I have a very lucrative career.
I continued to hold strong and watch copper every day, hoping for it to rise back up above $3.00 a pound. Well, today it did! We are looking at $3.04 a pound, which is great, because this mine is profitable at around $2.60 a pound, so there is hugh potential here.
Capstone Mining is the stock I have my money invested in and I am glad I made this decision. With positive earnings expected in late October, and copper prices above $3 a pound I can see this being a big winner in 2017 and an even bigger winner in 2018 when Capstone will have no hedges and will profit huge, even if copper price just moves sideways from here.
Good luck and remember...
When people are scared...BUY MORE!