< Even I have to admit he would have had to have been awafully lucky to have doubled up (in dollars! no less) at the exact bottom. >
I agree with you 100% ... but to NOT average down on a cost basis that is at $16 means a (likely) very long wait to see that price again. I first bought BTGC at 8 7/8 back in 1998. I've traded it, held shares for the longer term (and when the stock tanked I averaged down), increasing my position by almost 200% more shares. I'm not happy with the 5 year movement in the stock but when the price moves against you (and in a bear market) one needs to find a way to get back in the black. And picking the bottom is impossible. My last bigger by was in the $2.60 range.
I highly doubt 24,000 shares traded hands at and below $2 a share. Buying at the bottom like that is incredibly lucky and profitable.
The problem that kg2931 is facing is he doesn't have any more money to spend on stocks. I really don't see why he would want to spend any more money on this stock after being invested for 5 years.
Psychology plays a big role in investing!
nap, he's right. This is a piece of crap.
When they're high everyone loves them; when they are low everyone hates 'em.
It's kind of interesting, I while back this was the same price as another stock I bought (way back in June when it was around $4.50-5).
The other stock went above $13 last week; this went above $4 last week.
The grass is definitely greener on the other side!
< Should be bouncing back up with the NAS today, but it isn't - going down (-.11). What a piece of
Then SELL the "piece of