pennies are risky
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Do you have "rational motivation" for pointing out negative things? Hell, yes, you do. I don't believe I (nor a number of others) would be reacting any differently than you are if things had fallen for me the way they did for you......anyway, thanks for opening some eyes. I would have preferred sending this PM, but cannot.
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Part of it is that I'm also upset with myself for breaking some of my own investing rules. One of those rules is to pick exit points (both above and below) your entry point and sell at those exit points (unless the stock pays a dividend). If the stock pays a dividend then the rule is relaxed some. If the stock is a risky penny play then sticking to the rule is a must.
I moved my exit point for spng 3 times before the RS announcement and started dreaming of an exit point at $2 to 2.5 wherein I could quit my day job. It was all logical - outstanding sales, OS being brought down with company buyback, a move to Nasdaq, etc etc. I kept forgetting that this was a risky penny. I wanted to believe otherwise and put more weight on what I wanted to hear and less weight on "red flags". Some people call this "falling in love with a stock". That is as good a description for it as any I suppose.
I think I'm more upset with my dream being crushed than with the loss of the paper profits. It seemed very real for quite some time. Anyway, I truly hope it does come to pass for everyone who sweats out all this uncertainty. I'd like to believe that it can happen. That the common retail investor can sometimes spot something with tremendous potential and ride it "to da moon". Regardless, you have better odds here than playing the lottery.
Meanwhile, I'm going back to my rules and just "grind it out" slowly and surely.
AI
