RE:RE:RE:RE:RE:Bought more at the lows todayKronyboy wrote: Responding to this in fairness - here are the numbers:
My total tradeable portfolio value as of today's date/time with XBC @ 2.52 : $529,401.10
Total invested in XBC: $53,802.00 | Total down in XBC: -$23,427.45 | True value (at even money) = $77,229.45 | Total invested in Xebec: ~14.59% of my portfolio when taking losses into account.
I'd like to re-iterate that I'm less "happy" and more "calm" with my macro-outlook towards this overall strategy. I think, at the end of the day, we will all make a good portion of money of this stock (assuming we don't sell at lows).
I would also never recommend anyone to hold almost 15% of their money in a spec stock... my situation is unique - I have just turned 30 with no family and no real expenses on my head outside of my hard/soft costs of running my business. Truly, I am very lucky and have the ability to be more aggressive in the hopes of getting rich (like all of us surely want!)
There's a reason I'm only buying 100-200 shares here and there (when we see those new lows), and it's because I'm only adding some of my new money into XBC, aka the 1-2K a week I'm able to add. The rest is going to other Specs such as GDNP. As a result, I see this less as continuing to catch a falling knife, and more slurping up free shares that I was going to hold anyway (coincidentally bringing me to profit that much sooner, not that this really matters given my holding time-frame).
In my situation, money is still coming in so truly you can appreciate that, in my situation, "what I do with this 2k doesn't matter when I have an extra 2k coming in next week" - keeping in mind this money is after my life expenses.
All of this was shared for entertainments purposes and is not intended to be any sort of advice.
whognu1 wrote: different definitions of a hole i guess
and sincerely KB, if you're happy i am happy!
as per your numbers, either you have invested 18% of your portfolio and it is now 13%
or, you invested 13% and it is now 9%
either way you are down 30% or $22,000
another new low today and new lows are never good
call this what you will, and while the tech 'might' be good, the trading and the chart is telling you something
far safer to buy at $2.50 + once any more possible bad news is baked in
bottomline, i do not like losing money (yes, i understand fully tis unavoidable in the market) and buying lower lows very seldom ever works out
ask the resident broker double T; any broker worth his/her/them's salt will agree 200%
well that's funny; i had you pegged as a younger fellow
more non requested free advice
don't use the word 'ONLY' to justify adding to a losing position
a bad buy is a bad buy, no matter what the amount
with respect, you haven't seen a market bear yet; one will come at some point and you will wish you had been a bit more prudent with your portfolio
one day the fed will not not be able to bail out the stock market
maybe next thursday or in 2 years from now
no one knows when yet it will happen
as it is you have a nice portfolio, yet what will you actually do when the market reverts to the mean and your $500k is $300k?
trouble is anyone under 40 has not seen the carnage that a 'regular and normal' rout can have on one's psyche
doubling down is not the answer
you have a nice egg, and good cashflow
maybe read some market history articles and prepare yourself
again, sorry to be preachy, yet as j k galbraith stated "genius is always before the fall"
good luck