RE:RE:RE:RE:Laughable!For at stock like, say, APT or IQ, I would say, 'score!' But for an event driven stock, you purchased that 400 dollars against the possibility of the burner contract dropping. You got lucky on two counts. At some point either price action or events burn you, and that money is taken out of the game. You discover you halved your long gains chasing 400.
What you flip on companies like this always gets left behind at some point. You make money on companies with impending events by standing still.
LastZaz wrote: Fair points. But honestly it seems like we have a similar strategy on this based on your second paragraph. I actually have a larger percentage of my position that I'm unwilling to sell.
As I've said, I hold a solid long position on this stock. I don't feel there is anything wrong with selling a small position on what is a clear daily top and rebuying at othe clear daily lows or points of support for intermittent profits. I've had a lot of success with this. I've locked a very nice profit in literally a 2 day trade, then rebought in 20 cents lower today while still holding 74% of my position to be exact. Following my buy back at the lower price, I now own the same number of shares at the end of the day and made about $400 on the difference between the sell and buy prices I got. Do you feel this is some kind of aggregious error?
For the record my returns are well above 60% in the last two years using this strategy. With that said, I am only recently getting involved in venture or penny stocks like PYR, so perhaps I am not as used to hunting 200%+ returns over the course of many months/years as you.