I bought 900 shares last Thursday at $109.80. I was excited when it ran up to $120 but now looks, $85 today. I'm not sure what to do as this is getting real scary and I got a lot of money tied up here. Thanks for your help in advance.
Your remarks are a bit unsettling as you dumped over $100k into a security and appear a bit indecisive. We already know how overvalued the shares are so there's no point arguing that point. Fundamentals will get you no where in this stock. You should think like a trader and avoid "retail" mentality. The facts have been telegraphed ad-nauseum that invtrs can short tomorrow and then put options come on line the day after. Look at the retail $ flee. But getting on the other side I suspect will be very lucrative. I think professional support will come through after the next few days and you might even see the stock past $130. The queue of yet-to-be placed deals (e.g.,Groupon, Twitter, Facebook,etc.) are too valuable to let these shares plunge. There is a massive hidden network of support buyers just waiting in the wings. Successful trades must take the other side, don't swim with the retail crowd. Stomach the next 2-3 days of negative news and average down your shares if it sinks below $75.
ride it out, shortterm it will retrace as mm push it down to it in, but it will rise. You may have to remain underwater till october rally, but dont get shaken out. If anything average down from 60 on down. good luck
I hear you Gator. I think the issue is more of a market issue and LNKD issue. I've been sitting on a big loser with CSCO so I sold out this afternoon and avg. down here. I have a sneaky suspicion it might run for its old high and then I'll be okay again. I would have sold at $120 on Thursday but I missed it. I sure hope better days come soon.
Foolish. If you thought it was a buy at $100+, then why would you sell or be worried if it's at $85? You should buy more...unless of course you didn't think it was a buy at $100 but bought anyways.
So the underwriters thought$45 was a good price. If they figured it was worth $120+ why did they not put it at $85, or 90, and leave all that money on the table? I am assuming the $45 range to be a good base, until earnings change that, or sink it lower.
Just my .02
gator, that's not true. You can think a stock is *right* valued when you buy it (I'd obviously hope one does when they buy a stock) but if the action is looking like it's gonna take a stock out in half --- get out. Even if you think you're still right - because the market might think very differently. Don't wait for your own revelation.
Please don't talk about buy and hold. Diversified buy and hold strategies, for the most part, are for people that like returns equivalent to the market. And if that's the case, buy the S&P500 and get out of all individual stocks.