Concordia Healthcare Corp. T.CXR.R

Next move ?

[strattman]

Hi Folks; I am a recent retiree of 57 who forgot the basic rule of diversification, purchased 10000 shares of CXR, sold 6000 on friday, am holding 4000 and am down about 70k altogether....so far. Some of you on this board appear to be very knowledgeable, so my question is; should I play the day trading game and try to recoup some of my 60k (risky), or buy when it looks like there's a bottom (risky), or just cry, take my lumps and move on knowing that it will likely take me a number of years to make up this shortfall (not risky but no quick fix) ? Thanks to all.

[HamSandwich]

No offense but what makes you think that as a retiree (on probably a $1000 computer with a basic trading setup) you can day trade profitably against a bunch of 20 something HFT's with PhD's in math and computer science backgrounds?

[Shortalot]

A PhD does not give you smarts you need smarts to get a PhD, if you want one. Trading is not about math it is about being informed and having discipline and experience.   And if you read the message again nowhere did he talk about HFT. Do you know the difference?

[Marky1]

Ham...I would honestly hold on to your shares...I'm thinking of buying into the company when the dust settles on Monday...Taking away the impairment charge I feel that earnings did not warrant a 40% drop.....perhaps 10 to 15%..... But not more than that

[Marky1]

Sorry...to Strattman....

[strattman]

Thank you, but I made mistake and I get the consequences. The issue though is that read all the analysts' opinions (most said CRX was a buy), searched for articles high and low and of course for the first time in my life looked at a blog (this one) for the last couple of months. There's a lot of information out there, but its hard to tell the forest from the trees. I think my next move

[Leoc378]

Marky, I don`t want to sell low, buy highm but this CEO ....can he turn the ship around, any news on the strategic review

[Marky1]

John Zechner had it as a top pick...June 20 2016 on BNN....watch it..sounds compelling

[PANAGONINVEST]

Yes I watched it. That was 1 1/2 months ago. Of course, they always sound compelling on BNN and everytime they get it wrong they exit their positions and leave the retail investors holding the bags. He talked to Management, the same one that has lost credibility. Why do you think the CFO left? Why do you think Management were forced to report results following GAAP? Did he mention anything about

[Marky1]

Beats me Panag...If someone goes on National  TV and recommend a stock via Top Pick that person owes to the public to have done his Due Dilligence...don't you think??

[PANAGONINVEST]

You are missing the point that The Masket is making. If the only negative aspect you know about is the impairment charge then you need to redo your Due Dilligence. Think about trying to catch falling knives!

[HamSandwich]

He's a retiree asking about day trading this stock .... I'm sorry but over the long run that is a recipe for disaster. Retail investors turned into daytraders almost never ends well.

[Shortalot]

And that is all you had to say.

[strattman]

No offense taken, I asked the question and it's an appropriate response I suppose. I meant that I can buy and sell 6000 shares on the the fluctuations, hopefully making $5-10k a shot. But of course it could go the other way. Thx

[uranicynic]

It must have been tough for you on Friday watching things drop like they did. When you lose $10k every time the price drops a dollar it would be a pressure cooker. I bought in the high $15s, the high $13s and the high $12s getting my average down to low $21s. I can see a 20% pop on Monday after an initial small drop. I've still got some dry powder so I may be buying again early on Monday and

[strattman]

Again, thank you for your input. I do not intend on holding the stock long anymore, but as you suggest, mitigating the damage with a few key trades would be welcomed. Good luck to you. 

[CNInvesting]

Make trades if you want, but be sure to hedge them. You never know with this stock.

[strattman]

Hi CNinvesting; I've seen your posts on this and frankly it seems to make total sense except that I don't know how to hedge, so I'm a schmuck learning the ropes the hard way I guess. I will read up o  it tomorrow. Thx for your message.

[LatticelnExile]

This post has been removed in accordance with Community Policy

[strattman]

Thank you so  much, that is very kind of you both.