Don't remember who the SPNG guy was, but I bought some at .078 last week and doubled my position today at .128. And wow, I didn't realize GMGMQ is now over $1.20
You do fail....I'll give you that. (See what I did there?). So that quote you posted is claiming that the situation was very similar to the slavery we had for 300 years? In that tragedy, did those owners go out to China and bring people back? And being paid $8 a month is same as not being paid at all, is that what you are saying? Our own govt supported slavery to an extent but that can't be applied to the link you posted. How can you say the circumstance is the same? I think what happened to the Chinese was sick and immoral but it cannot be compared to the slavery days of America.
I also put some gambling money on SPNG after i saw his post and did some research on them. Doing pretty well so far...
That would be Htownhero. http://bbs.clutchfans.net/showpost.php?p=4520514&postcount=3047 I wonder if he is still holding.
So back in November 2008 I invested way too much money in SSO (2x S&P ETF). I now know it's a bad idea to hold these ETF's longer than a couple of days, but my question is this -- I didn't want to take a loss in February 2009 when the price went down to $14 (I bought for $29.85 in November), so I held. Well..now the price is up to $28. Do I sell now and take a minimal loss? Or should I risk it again and wait for it to go above $29.85?
I would strongly consider tax lost harvesting, followed by buying a 1x market ETF, like Vanguard Total Stock Market ETF (VTI), with plans to hold for the long term. I would not be surprised if the stock market has another bull run in it this year or if the market closes the year at or below it current value.
For what it's worth, SSO is the best of the bunch of 2x or 3x investments. Generally guide in terms of lost value is: Double-short is worse than double-long Triple is worse than double Unstable (say, Financials) is worse than stable (S&P) So a double long S&P (SSO) or Dow (DDM) will lose value, but at a much lower level than UYG or FAZ (worst combo) for example. As far as holding it going forward - it all simply depends on where you think the market is going. If you think the market is headed noticably higher, hold it. If not, dump it. How much of a loss you've taken so far and how long you've held it is irrelevant (except for taxable gains if you had a short or long-term gain). Bottom line is you have $x right now, regardless of how you got there - you want it invested in whatever you think has the best risk/reward ratio going forward. Basically, if you were to start a portfolio today, would SSO be part of it? If so, keep it. If not, dump it and replace it with whatever would be a part of that new portfolio.
Holy crap I've been watching SPNG today (glad today is an off friday) and this thing is sinking faster than the Titanic. I got out at 23 cents. Wow.
Sounds a lot like those penny stock scams where people pump attention to a stock and then get it to go up and then get the hell out leaving all the people who invested on pure momentum SOL.
Well I think an avalanche of stop losses triggered which made the dive even worse. I bought back in at 0.10 and plan on riding the wave up again.
now the trick is whether or not to sell out and wait for the plummet. Still kicking myself for selling APPL when I got in at $86
depends what you're holding and what your goals are. for instance...i bought GE long at around $6.70 (i think). I think that's way undervalued...and probably still is at around $11, ultimately. It might pull back. I have no interest in selling it because my goal wasn't quick turnaround cash from it. ultimately that stock finds its way back to $40 again at some point...and then I might be interested in selling.
At this point I'm thinking of selling some mutual funds that got reamed in 08. Still be at a loss, but less of a loss than three months ago. Then I'll take that coin and reinvest when the market pulls back as expected. I just hate selling at a loss. Oh well.
