I've seen a couple videos that say do not double down on a losing position. Early on it's ok, but after it's run awhile, don't do it. Counterintuitive. I put a stop on it, hate to lose $300 on 100 lousy shares. I wonder what's wrong with that company. LLY. Should have been a good one.
I'm so sleepy lately, if I'd get up and get opening prices, I could have played XONE again but even that may have levelled off before it hits bottom. I don't want to play anything until I have a clean slate and all cash, no holdovers, fresh start.
I don't feel sympitaco with this market. Before, even though a novice, I did and made more good moves than bad.
I have to learn a few more indicators. Catching a stop on the upswing (I think that's a confirmation signal for investors who know how to combine signals properly), that's a gamble, too, but if you think it's better than catching the bottom, I'll look into it.
A lot of cashing in with me too these last few days but instead of selling all of some I sold some of all and kept variety. Of course, sell rules don't always allow for selling half each but they did for me this time.
do not double down on a losing position... ..hate to lose $300
That's been a good rule in my experience, and what I tell myself is that when the market price goes down the money is already lost --leaving only the question of whether I want my money in cash, a stronger stock, or to stay in the losing stock I'm holding. In these days of $4.95 commissions we can change stocks like we can change our socks.
LLY. Should have been a good one.
That one has a lot going for it but our burden is not only finding good companies but finding good ones that others are beginning to like too. iirc it's the fundamentals that say if a company is good and it's the technicals that say if others are beginning to buy in.
don't feel sympitaco with this market.
--which could also mean that this is still an unstable untrustworthy market. You may have already seen this graph, with the total net worth of all corporations plotted along with a stock price index. The first thought is that stock prices are the value of the company so the two lines should always be same --but they sometimes are different. Back during the dot.com bust stock prices went down while a lot of new fast growing companies were born. That meant existing stock prices crashed but everyone that went with the new companies got rich. I did well and I thought I was invincible.
In late '08 I couldn't just go for the good new ones like before because there were no good ones, and I ended up with (first time ever) all my money in cash. On that graph you see total net worth did fine with the 02 crash but tanked during an '08 stock price crash that was no worse than the dot.com. This '08 crisis has been very unusual and (imho) it shouldn't continue; over the past half century shown here it's only happened that one time.
I have to learn a few more indicators
--and I have to forget a bunch that don't work. My hope is that we can get rich meeting somewhere 1/2 way.
