If he had $250k to invest, he would still have only made just over $2k profit. I guess it's ok, but really, is it worth the angst?
I imagine it would have unfolded like this:
Flame has $250k itching a hole in his pocket (I mean, who doesn't, right?)
...thinks to himself, "I know, if I put it into WBT, it is going up, I have faith in the company, if it goes down a bit then doesn't matter, it will come back up and I can clean up on the way up. Even if I make a 10c profit, that will be about $12k profit. Not bad for a savvy thinker like myself...
...proceeds to put his $250k into WBT at $2.13
..watches the price go from $2.13 to $2.11. He's now down $2,300 odd but thinks "it's OK, don't panic, it'll come back"
..watches the price go to $2.09. He's now down around $4,700. Starts to think "Fark me, what have I done? This is bullshit"
...watches price hit $2.06. He's now down over $8k. The dog walked in for a cuddle and got kicked up the backside. His wife asked what he wanted for dinner and he barked something unintelligable and she ran away scared, gathering the kids up to get out of Daddy's way as she went.
...he's thinking "WTF have I done? This is going to break under $2. Why was I trying to be so smart? Why do I play this game?
..share price comes back to $2.10. He's now down only $3,500. Thinks to himself, "If only I could just get my money back, I'm out. I can go apologise to the wife and see if Lassie wants to play".
..share price comes back to $2.12. The feeling of relief washes over him like the first rain over the Great Sandy Desert. "Geez, I'm nearly back" he thinks. Goes to the toilet to relieve himself.
..walks back to his monitor and the share price is $2.13. "That's it" he says, "I'm out and BREAK EVEN! Who cares if I lose the commission? What a ride! What a recovery from being $8k down!! PHEW!!
He hits the Sell at Market button. But price moves unexpectedly up between hitting the Sell button and he gets out at $2.15!! What a stroke of
LUCK GENIUS!!
... he now realises he has made a profit of $2,300. Walks sheepishly into the lounge where wife is sitting in the corner with a kid under each arm, rocking back and forth in a consoling manner. "Hush my babies" she says. Don't worry about Daddy"
"Ahhh sorry love, sorry about the outburst" he mutters, "it's just you know how hard I need to concentrate on my day trading. It's extremely scientific...you wouldn't understand...but I need to do fundamental analysis, technical analysis, it's exhausting using my mental powers to be successful in today's markets. But the good news is, I PICKED IT ! I backed myself in and knew I could do some successful scalping. Just made a cool $2k in a few minutes. It's not hard when you know what you're doing. Say, let's go out for a nice meal, we can even go pick up something nice for Lassie".
The Flame family proceeds to have a lovely dinner, and old Flame then gets on Hot Copper to advise on his 2c gain.
What a Day!!
All jokes Flame...don't take offense...because I can tell you one thing. This is exactly how it would have played out if I had have been the one doing it.
Have a good weekend. GO WEEBIT
WBT Price at posting:
$2.26 Sentiment: Buy Disclosure: Held
(20min delay)