The interesting part is we have created a situation where "longs" who averaged down have to be very careful about an exit strategy. Too me this helps the stock continue to rise.
I say this, as like you and I, I know others who have purchased so many shares (more than they ever thought they would own) that if they just said at price XXXX I am selling everything, it would just create a wall and possibly stall the stock. Possibly triggering others to sell as well.
Therefore, I know I have to trickle my shares out slowly, if not new money might think people are dumping or another debt holder is cashing out, and get scared away.
I have to really sit down this weekend and try and figure out at what price I am going to let what amount go for (hard without projections).
I have REDG stock that was bought when it was really high, so it will technically be a loss for tax purposes, yet overall a profit from averaging down.
I think I told you before I bought in originally at 0.09 and followed it down. Two years ago I sold everything for a massive loss and took the tax write-off with multi-year carryover. I waited 45 days and REDG actually went down even more. That allowed me to buy more shares than I had originally, but it still went down and I followed it down, trying to average down, as I bought more prior to each failed launch.
After my tax selloff and buy back, my highest shares were bought at .008 and my lowest at .0001 with a break even at .0004. Most of my shares until I started averaging down with .0001's were bought between .001 and .005. I bought a TON of shares the last couple of months at .0001 and .0002 to get that average down there as I knew this is was our last chance/time.
Again, it put me in the place of when to sell which shares to minimize taxes and still wanting to remain in REDG long term as I see very long term potential with POWFOLIO. I plan on buying some 5's and 6's on Monday, yet that's it for me. I cannot justify buying more.
I am still considering selling 40% around .001 so I cover my investment and let the rest ride, yet I don't want to stall the potential of a run and of course we all get greedy and then think, well, if I leave it ALL in there and it goes up this much, that's a gazzillion dollars... It's so tempting yet has bit me in the @$$ every time...
Have a great weekend Tlsmd.
-PI
