Buy high, hold low?
Based on an encouraging SA article and some superficial research of my own, I have the dubious distinction of having bought PTAXF on August 27 for .38 which turned out to be the year's high for the stock. Now PTAXF, after a steady 5 week decline, is sitting at 0.22 which by a wide margin is the year's low for this stock.
This represents a 42% decline in value over five, weeks, but due to the perversity in the way percentages are calculated, the stock will have to increase by 72% from current levels to return to my purchase price of .38. Now is time someone should probably chime in to remind me of the notorious volatility of pennt stocks.:)
Anyone care to speculate on the odds of me getting back to my original purchase price by this time next year? On the bright side, gaslone prices dropped again in my home town and we are paying $3.23/gal for unleaded regular down from over $3.60 a gallon earlier this year.
Still digesting all the lessons to be learned here. Currently I am subscribing to the philosophy that the stock has dropped too low to sell now. Will see how things look in December and January
and before I forget, thanks to all who have freely shared their experiences, opinions and expertise since I started coming to this bullboard on August 27th
Regards,
Terry