firesale completed, no more desperates, page-14

Hey Wisdom,

If you've averaged down from 6.8c all the way down as you say. Does that mean that you have extended your losses with every single purchase of GDN?

I can't understand how that is being smarter than somebody who sells out at a small loss, or stops out to protect a profit, so as to buy in later when, and if, a stock should find support and rise. You know the old adage, buy rising stock and sell falling stock.

You've also said that you've averaged down to just over 3c. I am keen to learn how you have done that. If you had a million at 6.8c, then you would have had to buy around 6 million at 2.5c to achieve it....but you've been averaging down along the way.

And just for the newer traders to the market, in relation to this statement;

"I know that there is only one thing more devastating than losing your cash on the specie market - that is watching it go up after you get out at the bottom"

....you can in fact buy it again when it is rising, and preferably on large volume. So the rule is...

- Don't sit there and watch a stock fall, sell it
- Don't just sit there and watch a rising stock, buy it.

Is the spec end of the market like gambling.....quite possibly. But if your horse looks like running last as it heads down the straight, you can call off your bet and get 95% of your wager back. You don't have to hold across the post to see all your bet go to the bookies.