LOL. Get ready for margin call tomorrow little man. It takes someone truly special to lose 50% in this last year's bull market but you managed to do it. What a hoot! It's Mr. Market and the investment pixies fault. Stop! My sides are hurting from laughing so hard...
Going to get your clock cleaned tomorrow pumper. You really deserve it so so reap baby, reap. Sleep tight pumpkin and awake much poorer.
So the fellow who insulted, dismissed, and threatened with calls to the SEC (what a hoot) will do this tomorrow; 1) Blame Mr. Market or GS 2) Call a bottom - again 3) Insist he is buying more
Vile pumper reaping what he sows now. Can't stand it someone would disagree with him and show how wrong his is.
This leaves virtually no meaningful support for this stock. I'm surprised the Chinese have not thrown the circuit breaker
This is a misrepresentation. They allowed investing is different than forcing money into the market:
You really don't know what the technical signs that would indicate a possible bottom are? There are plenty but the increased volume on Friday's sell of does not lean towards the idea of having reached a bottom. There are plenty more but it would likely be best if you learned them yourself.
I'm glad Mate. When me meet you buy drinks. Of course there are exceptions to EVERY axiom in trading and investing. Personally I believe averaging down is an insidious trading practice that few (not all) can make money on. Good on you for being one of those few.
Hmmm. I respectfully disagree with her here but since I have no position and you all seem to be long I hope this gaps up $30 tomorrow though I'm not very confident this sell off, particularly in this security, is done.
I like all of what you said until you got to average down. So I suspect you are correct and long term buying here will return $ but me suspecting it or some dude I don't know asserting it is not good enough for me. Some stocks (Enron, WorldCom, zillions of others) go down and stay down. Not saying it's the exact same but saying you don't know. Why not wait for the market to correct and then get in going up? Let's say, God forbid for your sake, this goes to $30. You need it to double to get square. But if it gets to $30 and you buy on the way up at $37 or $38 on the way back to $60 isn't that better?
So tell me if I own a certificate of 100 shares of GE how that manifests itself? Do I get a small turbine or nuclear plant? No, it only represents the perceived value of that company in the market at that moment in dollars. Plus that so called real value is meaningless if the price of the security does not reflect it,. That's why you sometimes see stocks selling for close to book. If someone calculates the real value at $120 (and you see plenty of amateur analysts here doing this) who cares if it is at $60? All that matters is the current price and trend of the security.
What I'm saying is the only real valuation that matters is the stock price. To argue that a stock is undervalued is a poor trading rationale.
Back at you Mate!
I don't think anyone knows. The futures are looking pretty bad right now but it's early. I suspect we might have a small clue when the overseas markets open. If that bloodbath continues I would not bet a wooden nickle on a prediction about an up week (but I'm likely wrong!)
My view is that a problem with trading (and buying a single equity is trading as investing is best left to an index or ETF) is that people treat an equity like a tangible good. If you see a jacket for $500 but buy it for $250 you still get the jacket at a ripping deal. A stock only has real value if the current price is greater than the purchase price (unless you are short). Stock itself has no utility. You can't wear it and only want the price to go up so you can realize a gain. To continue to dollar cost average down on a single equity is really like buying damaged goods. It's like buying the same jacket with a sleeve torn off. It has no utility since the price is upside down.
Dollar cost averaging was really intended as a construct for overall investing in a broad basket of securities which will pretty much ALWAYS go up. Single stocks can go down and stay there forever. Buy on the way up NOT on the way down.
Either way. Best to all here.