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Bought a stock near its peak 2 years ago, now its down 30% (after the rally from a 60% loss). I dont really need the cash but I see some instability issues with my department and employer in the near future. I was also considering using the loss (a few thousand $$$) to offset some big gains I've had in other stocks (6-8 thousand). Any thoughts?
Yeah, I too would have bailed out long before 30%...but that's just me and that doesn't help you NOW. My philososphy has always been, ask yourself if it's a stock you would buy TODAY. If you wouldn't, then there's no reason to hold on to it--particularly if you could use the money, tax loss, whatever.
Bought a stock near its peak 2 years ago, now its down 30% (after the rally from a 60% loss). I dont really need the cash but I see some instability issues with my department and employer in the near future. I was also considering using the loss (a few thousand $$$) to offset some big gains I've had in other stocks (6-8 thousand). Any thoughts?
Get rid of it, OD. Put that money on uranium. You will definitely get back what you lost LOL. Otherwise, you will unnecessarily have that money held up in a non-moving stock.
I'm presently stuck in some stocks like that. But they haven't had a major loss, they are just moving way too slow, or popping and then heading for a correction.
Bought a stock near its peak 2 years ago, now its down 30% (after the rally from a 60% loss). I dont really need the cash but I see some instability issues with my department and employer in the near future. I was also considering using the loss (a few thousand $$$) to offset some big gains I've had in other stocks (6-8 thousand). Any thoughts?
It all depends on the stock... what is it and I can give you my opinion on whether it's a dog or a strong stock. The stocks I buy (most of them), I never worry about. Even if I'm down 60% as long as I don't see a major sell off. If your stock has been going down on low volume, don't worry. However, if the volume has been high, that's a red flag that big holders are getting rid of it and giving it to the public. I'm not sure if you ever heard the term "shakeout" but some stocks will go into a shakeout to scare all the "weak hands" out, so the stock can become stronger for a future rise. I don't want to get into the details, but once again, if you want my opinion just give me the symbol. You should never say if I lose x%, I'm selling.
My worse performer is actually PFE, I've held since 98 thinking it would come back. Originally bought near 40, and have increased holding as price went down thinking it will come back.
Everything I used to read about selling a losing stock was 15%. If a stock drops 15% then you should dump it, as it's probably in a long term down trend. This does not apply to options trading, just individual stocks.
My worse performer is actually PFE, I've held since 98 thinking it would come back. Originally bought near 40, and have increased holding as price went down thinking it will come back.
I had them on my watch list for a while. But concern over their lack of a good pipeline plus one of their big earners about to go generic kept me away. At least the dividend is more than you would get in a CD.
It's currently in a upward trend, but it's a weak trend. It's been trading around average volume, maybe a little high for my taste. Overall, I wouldn't be too worried about about keeping your position in KDN. However, it's not a stock I'd buy and if I were you, I'd sell it. I think there are better deals out there.
Most people don't believe in stock manipulation. You can see on the 3 year chart, KDN had a MAJOR sell-off around the end of July 2008. There are currently 33.5 million outstanding shares and during that time, 4 million + shares were sold in a few days. That should have been the red flag for you to get out. However, the stock didn't have it's major drop until the middle of September. Think about that...manipulation is real. You need to look out for warning signs such as this as well as buying signs. If KDN went down on normal or low volume, there would be no reason to worry. Even if it dropped 90% because you know there was no sell-off. This would be considered a shake-out. The manipulators whoever they may be for this specific stock are trying to get all the little people out of the stock. I just listed some of my stocks on another thread in this forum. Take a look at them. Charts are the only things that can't be manipulated. So will KDN become worthless, no...it's now in the public's hands. It's a rouge missile that no one can truly predict where it will go.
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