RE:Am I an addict? We'll see...Kronyboy wrote: Had a conversation with my friends and we agreed the time is now.
I bought another 2530 shares. I now hold a total of 19,250 shares @ 3.72 average.
I think I'm done buying unless we see sub $2.80, in which case I'm holding out bids for an additional 750 shares.
Once I hit 20,000 I won't be buying anymore unless we go under $2.60.
At this point, market makers can suck it, I'll never capitulate.
well, i think addict is not the correct moniker
from my viewpoint here is what i see
many people are still trying to 'be right' and pick the bottom tick instead of trying to manage risk and 'make money'
that is a handsome position you have, and assuming it is no more than 10 - 15% of your portfolio then good on you
yet, if it is more than that you must ask "why"
if we assume all information is known and the price keeps dropping, then there is something else, and therefore you expose yourself to unknown risk
i have no idea what it is, yet i suspect we are simply continuing in a 'show me' state and this alone can bring investor apathy
if it is so obviously a steal at these prices, then why isn't everyone stealing it?............poor volume indicates it is not a steal
this will likely not move meaningfully until they report something worthwhile (duh) and the masses return to buy into the "proven story"
until then, and to my way of thinking, it has not broken the downtrend
so, ask yourself if we are going to $8.00 why not buy at $4.00 once it has proven that the bottom is in and that it will indeed survive as a going concern?
your 'job' is to make money, not to be right --- big difference
good luck, hope this wasn't too preachy