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Financial stock risk: spoke too soon!

September 29th, 2008 at 12:07 pm

The stock I bought for cheap wasn't cheap enough. I was up 40 percent last week, and I am don 50 percent today. Oh well! The price is down to about $1.44 a share. So what did I do? I just put in an order for 100 more shares. I'm willing to risk another $150 on 100 more shares. What the hell right? Market dips = stocks on sale!

I also bought 100 shares of Sallie Mae. I'd been waiting for them to dip to $10 a share and today they did. Down from $60 a share last year!

5 Responses to “Financial stock risk: spoke too soon!”

  1. gamecock43 Says:

    Well at least someone is running into the market! I try to be optimistic and think of myself 20 years from now. I can brag that I was the person smart enough to stay in all the way. I am a fighter. I am a survivor. No one needs to know that I was shaking in my boots.

  2. merch Says:

    I was looking at GS today, but am still waiting. Lots of bargains out there.

  3. pretty cheap jewelry Says:

    Don't fret, stay the course, at least till the end of the year. We're going in too with $1K and take some risk.

  4. thriftorama Says:

    I'm not worrying or fretting, just looking for bargains.

  5. Broken Arrow Says:

    Yeah, I'm really glad you feel this way. Buy on drop and average down. Really, Monday's drop is highly unusual, and really, nobody could have predicted that outcome.

    So, in that sense, I actually think you're a bit harsh on yourself to conclude that you didn't buy "cheap enough". I prefer to think of it as, "You bought in cheap enough, but the store decided to make an even better deal for you to buy even cheaper!"

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