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Wednesday, March 09, 2011 2:32:19 PM
It has reached the price point where there isn't a lot of down side, so lets say you buy a million shares here. Three things can happen. Nothing, which after a while means sell and eat the brokerage fees. It goes down, sell and eat whatever is an acceptable loss for you and move on. It goes up, actually this is the hardest one to deal with, because you always assume it's going to continue going up. What you need to do is establish an acceptable profit, some say 10, maybe 20 or 30% then always always sell at that point no matter what anybody tells you. Delete the symbol from your ticker and make a conscious effort to never look at it or read about it again. Sorry for the oration, but it's the only way to play and win with scam pennies.
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