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Posted on 2/16/16 at 11:06 am to Old Sarge
should have put it on black
Posted on 2/16/16 at 11:11 am to yellowfin
I even doubled down on my dumbness
I pulled out and made $400
Then bought back in at .86 when it kept playing with .90
So I'm out around 7k right now and sliding
I pulled out and made $400
Then bought back in at .86 when it kept playing with .90
So I'm out around 7k right now and sliding
Posted on 2/16/16 at 11:38 am to Old Sarge
Has anybody on the thread actually been successful at trading penny stocks over the long-term on a risk-adjusted basis? Serious question.
Posted on 2/16/16 at 1:27 pm to Bernie_Madoff
Yeah. Last time I do that.
Posted on 2/16/16 at 2:51 pm to Iowa Golfer
I could sell now and wind up with a 8,400 tax deduction
Posted on 2/16/16 at 3:06 pm to Old Sarge
(no message)
This post was edited on 2/16/16 at 3:09 pm
Posted on 2/16/16 at 3:08 pm to Old Sarge
I bought it high, high. It wasn't anywhere near a penny when I bought it. I held, and then sold some (lucky) before their acquisition. The rest I averaged down on hard, and got out with about a $10K loss, and that could have been much worse.
I was lucky becuase I had anticipated EXXI being part of my permanent energy sector holdings, so it's not like I had a small amount. I think they might have even been paying a decent divided at that time.
You talk about a bad decision. I had thought this would be sitting right next to CVX and XOM in my portfolio. The timing and price paid for their acquisition was just horrible. Even though a lot of people were thinking oil was artificially high, not many saw what would happen next. I didn't. I expected some sort of downward movement, but never imagined I'd be thinking about how long oil could trade sideways at this level.
It impacted my Directv/At&t strategy when all this exxi stuff happened. I own at&t, and I was skittish on that deal. I just stayed put, but I watched at&t like a hawk for a long time after that. I thought fool me once ad infinitum...
Cramer had their CEO on a tanker and was talking about how exxi would be a buy and forget stock. I'd really started to pare down on trading already at this time, and I remember thinking why not a dividend paying oil stock, and sell something at a gain in a sector where I was overweight?
Best laid plans, and a good lesson for me. Polaroid and Radio Shack's happen from time to time in what appear to be very stable stocks.
Ah well, it goes like it goes. To have never lost means one has never taken a riskier venture. Or is just a magnificent investor. I suspect the first as I don't believe in the second.
I was lucky becuase I had anticipated EXXI being part of my permanent energy sector holdings, so it's not like I had a small amount. I think they might have even been paying a decent divided at that time.
You talk about a bad decision. I had thought this would be sitting right next to CVX and XOM in my portfolio. The timing and price paid for their acquisition was just horrible. Even though a lot of people were thinking oil was artificially high, not many saw what would happen next. I didn't. I expected some sort of downward movement, but never imagined I'd be thinking about how long oil could trade sideways at this level.
It impacted my Directv/At&t strategy when all this exxi stuff happened. I own at&t, and I was skittish on that deal. I just stayed put, but I watched at&t like a hawk for a long time after that. I thought fool me once ad infinitum...
Cramer had their CEO on a tanker and was talking about how exxi would be a buy and forget stock. I'd really started to pare down on trading already at this time, and I remember thinking why not a dividend paying oil stock, and sell something at a gain in a sector where I was overweight?
Best laid plans, and a good lesson for me. Polaroid and Radio Shack's happen from time to time in what appear to be very stable stocks.
Ah well, it goes like it goes. To have never lost means one has never taken a riskier venture. Or is just a magnificent investor. I suspect the first as I don't believe in the second.
Posted on 3/4/16 at 7:41 am to Iowa Golfer
Yesterday was a good day, I wonder if it continues?
Posted on 3/4/16 at 8:09 am to NOLAGT
I don't have the balls to even try shorting this stock.
Posted on 3/4/16 at 9:18 am to dkreller
frick me it's up 70% right now
Posted on 3/4/16 at 9:26 am to dkreller
quote:
it's up 70% right now
Yet, I am still down 78% on my investment. I think I am doing this wrong.
On a slightly more positive note, I am only down 2% on DNR.
Posted on 3/4/16 at 9:30 am to dkreller
Yea I figured that would happen. Idk if it will stick but I think it will.
Posted on 3/4/16 at 9:33 am to OnTheBrink
Yeah....I'm still down 94%
Posted on 3/4/16 at 9:42 am to TexanWhoDat74
So I'm completely 100% ignorant to stocks and trading. Teach me something new today.
EXXI is around .80 today. I would assume it has to go back up at some point and over the past 5 years or so it averaged around 20-30.00.
How much would you have to buy to get into it? Could you hold it long term? say 3-5 years? What is the risk when it's this low?
EXXI is around .80 today. I would assume it has to go back up at some point and over the past 5 years or so it averaged around 20-30.00.
How much would you have to buy to get into it? Could you hold it long term? say 3-5 years? What is the risk when it's this low?
Posted on 3/4/16 at 9:54 am to Scooba
It's extream high risk right now. I don't know why it's up the last few days but they opted not to pay a intrest payment due so they currently are in the 30day grace period. Some say bankrupt is on the way. It may or may not be. If they can re structure there debt with the holders they will be fine if not it may be BK time. I am only learning as I go so take it with a grain of salt. But your right before this oil crash it was 25-30 so getting in at even .80 would yelled stupid gains IF it goes back to that range.
This post was edited on 3/4/16 at 9:58 am
Posted on 3/4/16 at 9:54 am to Scooba
quote:
How much would you have to buy to get into it?
as much as you want
quote:
Could you hold it long term? say 3-5 years?
as long as you want
quote:
What is the risk when it's this low?
potential bankruptcy is keeping me on the sidelines
Posted on 3/4/16 at 9:58 am to dkreller
quote:
potential bankruptcy is keeping me on the sidelines
Seemed too good to be true.
Posted on 3/4/16 at 10:49 am to OnTheBrink
quote:
On a slightly more positive note, I am only down 2% on DNR.
Mother of Pearl. I am now 18% to the good. What a fricking day for all the oil bankrupt brothers!
quote:
I am still down 78%
77% now!
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