Off-Topic :
Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Crap, so I finally put about $20,000 into DRYS dry shpping when it was $6.80 a share last week...now it's $5.80 a share! WTF! My broker told me we were going to go in, wait for a $0.50 jump, and get out...making a bit of quick dough. I'm pissed. He never leads me astray...
MrMephisto Wrote:
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> That's sometimes what happens when you gamble.
Got to know when to hold 'em, know when to fold 'em. Know when to walk away, know when to run. You never count your money, when your sittin' at the table. There'll be time enough for countin' when the dealin's done.
fairfaxdude Wrote:
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> Quick, put $20,000 more in at $5.80. IMAGINE how
> much you'll make when it shoots straight to
> $7.30.
>
> Fuck it, put another $40,000 in.
>
> Just sayin...
You sound like my broker. I say no more for now...one thing at a time. But if you have any tips or secrets, I'd love to hear them
Dry bulk sector is very volatile now, and swings up and down like that have been normal this year. If your broker was keen on shipping, he should have had you buy into the shipping ETF SEA on dips with the goal of building a position into a global recovery later. Then you could have bought some out-of-the-money puts in Diana Shipping and/or Dryships as protection from some massive dive in SEA.
Edited 1 time(s). Last edit at 06/22/2009 01:45PM by pgens.