I have no idea where my patience has gone. When I bought my first stock and enrolled in their DRIP I knew, deep down, I was in for the long haul. Now I get impatient if a stock pick drags on for more than a month or two. I have set this money aside to trade with and I want my picks to move. October 30th, that is when I first pushed money into Sandisk. Since then it has fallen steadily, mocking me and burning holes in my money and patience. I try to remember that 2 months isn’t all that long to wait. It is hard, at least for me. Just a few days ago I was ready to throw in the towel but have been dragging my feet since then.
With CES (Consumer Electronic Show) right around the corner and earnings release shortly after that I feel I should wait and see. It is just that being under water makes my mind and patience do crazy things. It isn’t the market makers or the institutions or even the shorts that I battle. No, for me the greatest battle is mostly with myself. The next few weeks should tell the tale. If we can’t get a move up going into and shortly after earnings then all this waiting will be in vain and I will have to admit the mistake by taking a realized lose.
How much patience do you have with stocks that are under water?
That’s it for today. May your blessings be many and your patience great during this holiday time. Speak kindly and keep an eye on your EveryDay Money.
2 comments:
They still have a one year price tag of 60+, I am whatching and waiting and will add again if they test the $40 range. Sit back relax, a new semester is to begin. Almost evry student today needs to carry a jumpdrive.
Look for a minimum of three year investment. The daily ups/downs are run buy the big boys.
http://www.bloomberg.com/apps/quote?ticker=SNDK:US
Look at Short Interest ~12% OF Float. It's like a spring being wound up.
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