Well, bad news for all my fans out there (gukky, allinthegame,etc). My target of 13.25 was hit this morning and the other half of my sahort position was taken out. I know you are all sad about that.
Good luck to all you bagholders. Hopefully you will cut your very large losses at some point, but based on your posst I doubt it. If the momentum turns I'll join you on the long side, but if it pops on low volume you'll have to deal with me again as a short.
Keep the dream alive guys...maybe one day MAGS will cure cancer and your stock price fantasies will come true.
Hey, best of luck allinthegame. With your attitude you will never learn how to trade. But I sincerely hope your losses on MAGS won't be material to your financial freedom. If you are not going to sell this thing ever I hope at least it levels off so you don't add to the loss. Does your wife know about the loss, or is a a secret?
Of course, that's what I have been trying to tell you. We ALL have been burned before. Anyone who says they haven't is lying. I have learned from my mistakes and now have stringent risk management systems in place. I see you do not. I have been trying to help you see the light (whether you believe it or not, I HAVE been trying to help), but you are still too stubborn to admit to yourself you made a bad trade and cut your losses.
Eventually, after being a bagholder enough times, you too will learn and become a better trader. But until you learn to cut your losses your destined to ruin.
Hey, I can understand why you're embarrassed. MAGS was a horrible trade for you and you obviously have no exit plan. Do you now understand why you are referred to as a bagholder? You hold a tanking stock, either forever or until you are even, whichever comes first. Is that correct??
He is obviously getting killed on MAGS, hence he is becoming more and more bitter. As I said, a train wreck is fun to watch and he is a LOUD train wreck LOL.
Allinthegame, just keep in mind that tax losses can carry forward, so one day you may have a gain to use it against. That's good news for you, right?