You should wait for next 6 weeks and may be you will get your money, otherwise do you know what is averaging? You may recover that way. If you are a patience investor your reward will be their. I bought MRK for 48 and it dipped in 20's and 30's for aslong as three years I sold my holding at $70 and now I regret I would have held it longer it traded as high as $108 to 120. If you have heard IBM then have patience and wait set your target profit and sell it than. I you can control your emotion and overcome two demons FEAR and GREEd you are on your way to reap good profit. I recommend you to hold or sell me at 6 3/4 and go and read W.Buffett and Peter Lynch book you may get some investment disciplines. Happy Holidays........Bye the way I am accumulating at this level, If it dips below I will have a truck to load, I see managements waited interest in this company and they have 42% holding, 8% is held by another investor, 7% by another and so on .... So my target is 12 to 14 in next 6MOON and I am dumping..
I am very curious what caused the gain in CHK yesterday. There was no signifcant news that I am aware of. I wonder if CHK management is using some of their cash proceeds from the IPO of the drilling company to buy back shares at depressed prices. I having been watching this stock for a while and I am very interested but have made no purchases as of yet. It appears this company has very aggressive management with great knowledge of the industry. I am looking to bottom fish this stock, but have one small concern. I have an S&P stock report which mentions over 3.8 million share options at $1.11 to $35. I have no idea how many options are at $1.11 or when they expire. Presumably, these shares are rewards for management and would come out of the floating shares. With less than 70 million shares outstanding another 3 million or so shares will further dilute earnings somewhat as CHK rebounds. I really have no doubt that this stock will rebound stongly but don't know how soon. Have not decided whether to park money here and wait for gains or go elsewhere and wait for signs of life. Anybody have any thoughts or further information?