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Learning to Invest / My Dumbest Investment


Subject:  ACAD Date:  10/19/2012  5:33 PM
Author:  FundamentalsMan Number:  3591 of 4351

Looking around in my account I noticed that this small biotech had gone up 10%/day for the prior two days and was currently up 10% for the third day in a row. I knew nothing about the company but I intended to buy it, hold it until the next day, then sell on another day's 10% gain. Nearly to the minute, once I placed my order, the third day's 10% gain evaporated. I sold three weeks later for a 28% loss. Lesson learned.
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