"No 1 rule when buying shares. NEVER average down always average up. Get into the habit of averaging down and one day it will wipe your account. Guaranteed!"
Not so. If the fundamentals are sound or if you have faith in a company then it regulatly pays to average down. I have plenty of personal history to prove the point. Even with LYC it could be said that those that caught the falling knife will now have a lower average than those that didnt average down. They will be back in the green sooner. Each stock should be carefully assessed though. Averaging down could lead to pouring money down a bottomless pit.
LYC Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
