THE OPPORTUNITYJust happened to look in to see who was still clinging on to a dream that is now dead multiple times over. Yep, the same cast of characters, well, of course minus those who have washed completely out of the market.
I'm not really sure of the psychology here that drives this phenomenon, but there's some twist in some people that says "well if I don't sell it's not a loss". That would be completely false thinking. It's a loss all the same, but perhaps only one you haven't realized yet by actually pressing the sell button.
So with this approach, there now becomes TWO problems. First, you were absolutely wrong taking a position in this stock, and secondly, because of this "twist in thinking", you're now willing to let what money you still have sit dead in the water. This money does nothing. This money earns nothing. It's just dead.
Personally, I can live with making a mistake picking the wrong stock. The trick of course is to realize the mistake, and "be wrong quickly". And yes, in my early days decades ago, I rode one or two stocks to oblivion. That was a tough lesson to learn, but I DID learn it, as any number of people here need to.
I'll say it again. YOU ARE IN THE MARKET TO MAKE MONEY. NOT to be the walking dead. NOT to be the forever cheerleader. Go where the money is to be made, and made in a fast timeframe, and THAT is how you win. Right now I'm in a stock that I think could be the best stock I've ever been in (NANO on the tsx.
CLICK HERE to learn more if interested). The anticipation of making a LOT of money sure beats standing motionless here flogging an all to dead dream. Of course, your choice. Personally, I'll take the "here to make money" route EVERY time.