LOL!
This week I just broke my own rules and strayed into a Momo play that looked really good! I was bored and hungry, and should have gone for a cup of coffee instead. Instead, I nibbled on that junk without having looked up where it had been or who else was pushing it. If I had delved into the matter at all , I would have recognized it for the hazardous waste it was...
Naturally, within minutes of my having hit the "buy" button, an onslaught of company financing began to hit the bid, and the stock began to implode. Within half an hour, I was down 25%. I closed my position as fast as I could, and limped away. That 'lifechanger' went on to close 55% down from where I bought it.
I had to watch, and sure enough, the next morning the CLYP, VFIN continued their heartless assault on that POS, knocking another 40% off the PPS. In short, that stock took a 100% loss in a day and a half. Yikes! Buyer beware indeed.
Good thing it was only what I call a "lotto pick" $ amount, but it still smarts to lose money, and so quickly. It is always a humbling and sobering experience.
I might as well have just taken $400, walked over to the incinerator, and dropped it in. Would have saved me the Ameritrade fees.
And that's what you get folks, for straying from your own trading rules. Maybe one of these days I'll break the evil habit.
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If you take anything I say as advice, you're crazier than I am.
