Friday, September 07, 2018 10:56:25 AM
Conversely, I bought an oil stock in 1998 - SPND - at .18 and added shares in the .20s, .30s -- all the way up to .60 cents.
I told everyone about that stock. Would mention it to my brokers when we were on the phone and they were like - "ok, I'll take a look at it". I didnt know anyone else who bought it. It languished in the .30s for years. Now the important thing to know is that it had lots of cash and was consistently making money. Also mentioned it on investment forums. Nobody seemed to care no matter how much I pounded the table.
Then, suddenly, around 2004(5) when oil began heading up everyone was all about oil stocks (oil was ~ $20.00 per barrel when I first bot the stock) and it went up to ~ $10.00
Wasnt long and folks lost interest and it dropped under $2 bucks.
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I see we had some selling this a.m. (and fwiw - I didnt buy any) but that happens a lot when you live on the west coast and get up when you feel like it (which often isnt before 6:00 a.m.)
Don't even want to get into how many morning runnups I missed out on - in stocks I owned.
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