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When to bail on a stock and get it in something moving
Posted on 7/6/23 at 12:54 pm
Posted on 7/6/23 at 12:54 pm
Still stuck in a couple stocks from a couple of years ago when everything was booming (NIO and PENN). I thought I was buying the dip at the time but currently down about 60% in each. They fluctuate a bit but been that way for a long time.
All my other investments are in ETFs, Mutual Funds, or locked up in longer term CDs doing decent year to date.
Do I just give up hope, lesson learned chasing, accept my losses in these meme stocks and distribute what’s left into my current investments or wait for them to rebound….if that even ever happens.
All my other investments are in ETFs, Mutual Funds, or locked up in longer term CDs doing decent year to date.
Do I just give up hope, lesson learned chasing, accept my losses in these meme stocks and distribute what’s left into my current investments or wait for them to rebound….if that even ever happens.
This post was edited on 7/6/23 at 1:05 pm
17
Posted on 7/6/23 at 2:13 pm to BabyTac
I have a few duds as well.
In the past, I have waited to sell until I needed to off set some cap gains somewhere else.
Probably not the best thing to do, but thats what I have done.
In the past, I have waited to sell until I needed to off set some cap gains somewhere else.
Probably not the best thing to do, but thats what I have done.
Posted on 7/6/23 at 3:07 pm to BabyTac
Research a stock before you buy it. List your reasons for buying it somewhere. Reevaluate the stock and the reasons you bought it every so often.
Did something change besides stock price that makes you feel differently about the stock now? Less growth than you thought? In a lawsuit? More competition than you thought? Etc.
If you’re just chasing/dumping on stock price, you aren’t going to have a good time.
Did something change besides stock price that makes you feel differently about the stock now? Less growth than you thought? In a lawsuit? More competition than you thought? Etc.
If you’re just chasing/dumping on stock price, you aren’t going to have a good time.
This post was edited on 7/6/23 at 3:09 pm
Posted on 7/6/23 at 4:11 pm to BabyTac
Yes to all unless you wanna wait 3-5 years
Posted on 7/6/23 at 4:22 pm to BabyTac
quote:
Do I just give up hope, lesson learned chasing, accept my losses in these meme stocks and distribute what’s left into my current investments or wait for them to rebound….if that even ever happens.
Yes. Your goal should be to increase your wealth, not prove that every trade is profitable no matter how long it takes.
Posted on 7/6/23 at 7:27 pm to hottub
I will just add that I have lost more selling too early than holding duds.
Posted on 7/6/23 at 11:06 pm to BabyTac
I feel the pain. Smart people tell me to water the flowers and pull the weeds. Waiting on weeds to flower is dead money. I get it and have had mixed success. I waited on and bought down stocks like under armor and Whole Foods. Thought I was dead but made big money buying the dips. Also lost on a few. Oil companies that got crushed by trumps shitty energy policy of bankrupting US energy companies. I rode that crap down.
So it’s a mixed bag. I try and try to balance how much I’m willing to lose based on what I’ve made.
So it’s a mixed bag. I try and try to balance how much I’m willing to lose based on what I’ve made.
Posted on 7/8/23 at 9:04 am to BabyTac
The million dollar question...literally.
Knowing when to sell is much harder than knowing when/what to buy.
I am not good at it, and hold most things forever. I have a lot of 3M.
Knowing when to sell is much harder than knowing when/what to buy.
I am not good at it, and hold most things forever. I have a lot of 3M.
Posted on 7/8/23 at 9:13 am to KWL85
I held WolrdCom to the ground...even bought some on the way down.
Posted on 7/8/23 at 3:13 pm to BabyTac
Down 8%
Posted on 7/9/23 at 8:13 am to KWL85
quote:
I have a lot of 3M.
At least they are paying you a nice Div for now to hold the bag.
Posted on 7/9/23 at 8:25 am to BabyTac
It's such bs you can only write off 3k a year too. Wtf
This post was edited on 7/9/23 at 8:48 am
Posted on 7/9/23 at 9:08 am to Billy Blanks
quote:
It's such bs you can only write off 3k a year too. Wtf
Last year was the first year i actually came close to using that 3k for loses. Brutal year. I got a dirty look from the wife when this came up on taxes in May. I just told her that this helped in not having to pay any taxes for last year.
Posted on 7/9/23 at 9:14 am to BabyTac
Depends on what the stock is but if it’s something speculative; 20% is my pain threshold
Posted on 7/10/23 at 9:43 am to Billy Blanks
quote:
It's such bs you can only write off 3k a year too. Wtf
Can’t you rollover losses more for up to 3 years?
This post was edited on 7/10/23 at 9:44 am
Posted on 7/10/23 at 1:23 pm to hottub
quote:
Can’t you rollover losses more for up to 3 years?
Yes. Forever.
Posted on 7/11/23 at 12:11 pm to BabyTac
In a similar situation with TLRY - don't have too much in it so the plan is to hopefully rise with the tide or go down with the ship.
Served as a quick lesson to just stick to index/mutual funds as I don't have the time or knowledge to invest in individual stocks.
Served as a quick lesson to just stick to index/mutual funds as I don't have the time or knowledge to invest in individual stocks.
This post was edited on 7/11/23 at 12:17 pm
Posted on 7/11/23 at 1:02 pm to BigOrangeVols
Bailed on NIO today. Down big, but put it all in Meta and will let it ride for a year or so. Already seeing movement. Going to hold PENN but it’s days are numbered as well.
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