I bought 2000 shares for @26 each and got sick and never looked back at the stock to realize what was happening to the stock.
And now I have lost over $17365 so far.
Selling is probably not an option. How long will I have to sit.
This just sucks..
Learn how to use a stop loss.
It is a trader's market.
I would use any rally to cut my losses.
Too many idiots average down and lose more.
They also think it is not a loss if you never sell.
The loss is realized and final upon sale but to deny the current reality is delusional.
Let's face it, you are now in for the long haul. The best thing you can do is dollar cost average. Every month, buy a little more and bring your costs down. You are going to be underwater for YEARS. Now is the time that tries men's souls. Know that one day, years from now, you will succeed, but it's going to be a long, hard, miserable road. Best of Luck.
You are considered fortunate to be only down $17K during this brutal, vicous market period. There are many traders/investors who are getting their behinds kick big time.
In your situation, patience is the key as time will heal this market in 2010 (recovery year).
I started buying and holding INTC stock in the mid 80's and did very nicely with it. My holdings averaged in low single digits and I sold everything in the mid $40's when the bubble began to burst in late '00/early 01. I've always admired INTC , but INTC is now trading at similar levels to'98. So, if you forget the dividends then it's returned very little shareholder value since then.
Over the years I've heard and read countless webcasts and reports from Senior INTC management forecasting great times and products are just around the corner....they may have delivered great products and improved their financial performance during the time , but it's done nothing for their stock price. In recent times the best INTC stock could manage was ~$34 in early '04 as Wi-Fi was taking off, but has only seen lower highs since and struggled to get higher than $28. So investor optimism is clearly lacking. The recent steep price decline has damaged INTC stock price and this will take a long time to recover.
IMO INTC's Q3 should be good, however I don't think Otellini/Smith's outlook for Q4 can be optimistic in this economic climate so the stock price will go down/flat at best. OK so INTC's management may well hype a slew of great new products being imminent ... so what ? ....they've been saying the same thing for years now and its getting a bit like a scratched record. Barrett is on record this week as saying that INTC will "Invest their way out of a recession" ...He, Otellini and Maloney all said the same thing during the last '02 recession ....Heh , nice soundbite Craig , but the facts are, that no matter what you say somethings never change at INTC,including the stock price.
I started buying stocks again, and I am not a stock guru. Last time I went in big was right after 9/11. This is the same and different. INTC is a sector/market leader that got oversold as funds liquidated for cash as well as other reasons. The reverse will happen as the world will not stop. For you pros out there, little old non-professional me is buying again. As it drops I will buy more. Oh tell me I have to a wait?.. what 4-8-12-18 months... sure I will wait as again I am not a trader.
All the hype on these boards come from those who think they can influence a stock by hyping it up or down. Ok do it, it didn't cost me anything to sign up here either. I also won't act of your "predictions".
Logic would dictate:
By all measures INTC while imperfect is a solid co (read safe investment)
Average in on the dips with new money, if you are already in average down (Even Cramer says this)
Set a time horizon that takes in the overall economy, but as I remember the stock market usually moves up before the overall economy signals growth
My position for what its worth-5k shares all purchased at $20 to $17 and change. I would welcome that chance at 5k more shares in the $16 range
My 2 cents
You did not loss any money at all. You have not sell the stock yet. All it is your money is pin down by the current market price. Hang in there your profit day will come.Hey if you have some cash lay around, buy more now.
short answer - probably at least a year
long answer - How long do you have until retirement? I hope you didn't buy this stock with just a year or two before retirement. This is a profitable company but with the US economy plunging it's hard to see how fast it will grow in the near future. My opinion is you should hold it until a few years before you retire then use limit orders to get rid of it at good prices.
Disclosure - currently long on INTC
Great company but it will go lower...even if earnings are a good surprise guidance will be lower....just a function of this terrible global economy.
$20 had been the floor for several years but it wasn't supported so unfortunately $16 is not out of the question near term.....
I bought at $20.34 a little while back before the stock dropped to the $17s. I'm just sitting tight and may average down after earnings if necessary. When you look at RIMM,AAPL,MON and some of the other high-flyers that took huge dumps this past week INTC doesn't look bad at all.
Just hold on to it. I am an Intel employee and we got some great stuff comming. Its the current state of the economy that has the stock price so low. You'll have to be patient but in the long run it will work out.
I'm also a INTC employee of 20+ years and we've been coming out with great new products for as long as I've been employed here ...but that's had little bearing on our stock price. The good times are long gone
Im buying at these levels now. Can't say it wont go lower; but unlike the last big market drop, the tech companies have real earnings now and rates have been cut.
Im taking nibbles here and there and will take more if the market drops more.
Im not to sure what made you buy INTC at 26 (I hope you don't take creed of what people recommend as they are all pumpers; just about every single one). You have to go on historical P/E, charts, how they bounce of lows, relative strength, earnings, and sentiment.
In PTEN, AMAT, ALY, INTC, TXN wishing BMY,MSFT,PBG and PFE would have tanked more.
Would like my ORCL back at 16+.
Some guy recommended CAG last night and its good but I feel he is just pumping CAG for someone.