In the past I was advised to ride these stocks to a quivering death but in more convincing words “they will come back, be patient” I have no use for a broker who is a true company man not looking out for my best interest. I was one of the many they distributed to.
Thinking out loud; I recently sold INSP… I’m really not sure what will happen with that one, h@ll they could re-split it and I just made a big mistake. I understand why reverse splits are used but have experienced the mechanism of recovery for such. INSP started its recovery after the reverse split.
I guess it depends on what economic cycle we are truly in; For instance: INSP; was bought by that broker back in 2000 when I did not pay attention to all this stuff. We all know now what cycle we were in then. It appears to be doing a head and shoulders thing with a gap under it. What cycle did I ride down when it took its slide… they reverse split it at the bottom and the change of the cycle and it took off. Hindsight being 20~20, the time for me to buy would have been after the reverse split for the simple reasons of shares Vs commission and the economic cycle. I have a loss of many thousands of dollars on the books for INSP I can use for tax loss against any future gains… I can only hope I’m granted the 30~31 day wash period before it fills the gap if I decide to re-enter it.
Although embarrassing I try to be brutally honest. I still hold POS CMRC because it’s not worth the commission to sell it. Bought by that POS broker 500shares of CMRC for 343.36 Reverse split on 9-17-02… 1~10 @$3.00 Current shares 50.000 last $0.83 Value $41.50 (-$17,126.44) what in the h@ll do I do with it now?
The mistakes I’ve made was taking to much pain before firing the broker and taking over my account. Trust? No one cares more about my money than I do.
What economic cycle are we in or better yet, what market cycle are we in?
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