RE: RE: RE: Irrational commentsHi psl01:
Yes I have done very well on SMF. My average cost is $3.28, but I held it since mid 2009, almost two years now. I sold 40% when SP dropped to about $10+, and then the last few days sold another 20% at about $8+. One thing I have not yet mastered in this investment game is when to sell.
When SP was at $14+ December 2010 I was sitting on $275,000 of profit. I wanted to sell at least some of that in January 2011 because I would have 16 months (April of 2012) before I have to pay the capital gains tax. Well, as SP retreated I in January 2011 I hesitated and much of that gain went up in smoke now. Maybe it would be a different story if I had not observed my own "pay the tax as late as possible rule" and sold in December 2010 (in that case pay the tax in four months in April 2011). No point in crying over the "should have, could have would have" now.
I think SMF has become a "staled investment" that's why I finally decided to move onto something else, in spite having to swallow the tax bite and pay the capital gains tax.
Sorry to hear that you're still down $48K on SMF. If SMF can shake loose the shorts it'll go over $10 easy. That's why I still keep a stake in this stock, besides this is free investment for me now anyway. I already fully recovered my original investment, plus pulling out a healthy profit when I sold 60% of my SMF shares.
Sometimes you can just get very lucky on one stock.