I Hope That Bounce Comes Too
Selling now is kind of pointless unless you just have to get out. My number one recommendation here is not to trade or invest with these MJ plays using margin. That's a total weiner shrinker when things go south. There is always a possibility of a total loss and losing money you don't have is a traders death.
If you plan to get out on the next bounce,stick to your guns and remember the horrible feelings you are experiencing right now. Don't get caught holding because things start looking better. If you can stand to stay in, do it but if not, remember this time because it will happen again. ERBB went from .002 to .01 in a blink. But it then went from .01 to .02 and pulled back to .01, followed by a jump to .06 then back to .03, then to .11 and back to .025 today. Timing all those pops would have been difficult. It was far easier to buy and hold, taking profits at key points.
With ERBB I got in with a small position at .01 a few years ago only to watch it bleed into triple zeros. Instead of selling or getting scared I went on a buying spree and loaded as much as I could. The situation isn't much different from today and I'm getting itchy to buy again but have no need to chase.
To use an analog before I head to the gym:
Everyone wants instant gratification. People workout hard for 1 month and expect to be ripped but the improvements are only minor. 2 months go by, results but again not enough. Then they start turning to steroids and other means of speeding up the process which does more damage than good.
Be the turtle, slow and steady or be the rabbit, fast and furious but don't be the chicken, frightful and a marked as prey
"Emancipate youself from mental slavery, none but ourselves can free our mind"
-Bob Marley
AI
