I bought Citigroup last summer when the financial sector seemed to be in big trouble and C lost more than half of its year-high value. The stock went even lower after my purchase. I was not patient enough so I bailed out when it started to bounce back for a mere 50 cents per share gain. I soon wished that I had waited as I would have made over $10 per share gain.(despite the fact that Citigroup has yet to fully recover.)
I bought HMA @ 13. Now it also came down. I keep reminding myself of my citigroup lesson and I am holding on. I am even thinking of buying more. I believe in buying sector leaders, particularly when their stocks are depressed.
Be very selective when picking stocks then be patient!
I bought Travelers at 46 and it went from 73 to 28. Doubled up at $31. Same with CSCO when I doubled up at $51 (original purchase at $46). I bought HMA at $13 a couple of weeks ago and have been waiting for Merrill Lynch to publish their revised opinion. Doubled up on HMA today at 10 13/16. IMHO this stock could still get beat-up some more, but a 20% grower and a forward P/E of 14, it's worth a little risk and then some. If you buy well managed companies and view unwarranted drops as opportunities, you'll generally do well. Good investing longs!
I have made the same investment that you have....in at 13.25 and 12.5......the thing is ....when your "bottom fishing" you almost never catch stocks at the absolute bottom.....you have to be ready for that additional fall....and then when it recovers slightly, not be so "greatful" as to take only the chump change..
the other issue is "when" will this out of favor stock recover....( another unknown )....
so patience is the key here....if you want that immediate gradification, you need to take the risk of "momentum investing", it all comes down to what you have the stomach for....
do yourself a favor.... the next time you get "weak knees", shut your computer off for a couple of months ........you'll wake up some morning to find your a bit richer.......
learn to be a little more patient. Last year I bought four stocks and got scared and sold them all because of very large drops. I learn some lessons quick in the stock market. I bought one stock (NUE) at $50 per share and finally sold it at $35. I bought NEWZ at $9 and sold at $5 per share. Right now, every single stock I bought last year is now over what I originally paid for them, but I lost money because I panicked. The lesson I learned quickly, is that you can't make a quick buck in the stock market. The shorts make money at times, but they too even get caught with their pants down...if they'll admit it. I bought HMA a few weeks ago, and plan on staying with them. Why sell now when it's soooo low. Just doesn't make any sense.
Hope all the best of luck...Make some $$$ if you hold on.
I agree 100 percent. I'm an x hma employee. I have still owned their stock even after i left. I have had my stock for over ten years. I made alot of money on them when they went public and then went private again in the late 80's...I still buy this stock when i have some extra money to spend. It has made me alot of money over the years with splits. There for awhile it was splitting like clockwork every 8-9 months. They are a very sucessful company with a very nice niche in the healthcare market. I will continue to stand pat on my current stocks and might even purchase more(have to sell some of my non-producing stocks first)....DON'T SELL THE FARM YET!!!!!!!!!