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Investing/Strategies / Crisis Investing
|Subject: CROX crisis||Date: 11/9/2007 7:09 PM|
|Author: Fuma102||Number: 7 of 7|
my scottrade details:
Buy 37 shares CROX @ $27.69 8/3/2006
Buy 25 shares CROX @ $31.50 5/3/2006
Sell 25 shares CROX @ $76.37 5/18/2007
Sell 50 shares CROX @ $41.75 7/5/2007
Sell 24 shares CROX @ $53.69 11/1/2007
I got scared pre-split @ 76, thought it was getting ahead of itself, and wanted to lock in gains. post-split, I was still scared, saw better opportunities (CELG & STP), and sold out. after the collapse, I sold the remainder of my position at 53.69 ... yesterday it touched $36.
Lesson: if you get nervous, lock in some gains and play with house money. when the bottom falls out of a momentum stock, you should fall out of love with it too. Set up stop-loss limits. When there is blind faith & loyalty, its time to start running the other way - particularly when a stock has been on a fantastic ride of late (like, say, 300% a year).
To be fair, Im waiting for some stabilization to the CROX price for a potential buy down the road. If their youbycrocs line sells well and the stock price is lower than current levels this stock will be dirt cheap.
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