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Financial stock risk: spoke too soon!

September 29th, 2008 at 07:07 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!

Posted in Uncategorized | 5 Comments »

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

  1. gamecock43 Says:
    September 29th, 2008 at 07:17 pm 1222715828
    1222715828

    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:
    September 29th, 2008 at 07:46 pm 1222717617
    1222717617

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

  3. pretty cheap jewelry Says:
    September 29th, 2008 at 07:47 pm 1222717666
    1222717666

    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:
    September 29th, 2008 at 07:49 pm 1222717754
    1222717754

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

  5. Broken Arrow Says:
    September 30th, 2008 at 12:29 pm 1222777782
    1222777782

    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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