Believe it or not, I was giddle with excitement at making easy money during the bull market and bought shares on the credit card.
ITS THE MOST STUPID THING YOU CAN DO!!!!!!!
I tried the old T+3 trick....then when i didn't make a quick buck I though...no problem, I'll just hang onto it for a little longer then sell and cover any expensis + profit.....WRONG.
If you didn't know (or for anyone else who might not know and be silly enough to do what I did), If you buy shares on a credit card its treated as a cash advance and the interest starts accruing IMMEDIATELY. There is also a fee of something like 1% of what you borrow charged as well.
It was quite honestly THE most stupidist thing I have ever done. And Im normally really good with managing money. But making money out of shares was too easy during a rising market, i was new to the share market, and honestly....it felt like a drug addiction.
I have mended my ways now and will never be so silly again.
The debt is paid off, although Im still holding 1000 BRM shares that I paid over $3 for! :(
Bannerman will be a success story Ive no doubt, but don't put all your eggs in one basket.
As for BMN, nice strong finish once again today! Buy/Sell ratio is looking better everyday. With the PFS due out in a couple of months, i guess now would be a good time for some to start accumulating.
Ok.....Im finished embarrassing myself on a public forum now :)
BMN Price at posting:
$1.37 Sentiment: LT Buy Disclosure: Held
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