You're certainly passionate about your strategy and positions Jack. I admire that.
Committing more capital and chasing a lower average price is fine for a great* company caught in a poor macro environment but even then, it has to be subject to strict portfolio limits. I'm sure you can justify your 'statistically guaranteed method of averaging down my buy price' but it is a dangerous strategy that I've done before (with both success and disaster) and newer investors/traders should be very careful of.
I'm watching MFG but haven't seen anything yet to convince me to buy. I'm not a shorter either but I'm thinking if the macro position gets worse - and I think it will - there's likely much more downside for MFG (and others). (Happy to be wrong on the outlook though- just my thinking)
* Great - Not a great word to describe what I mean as nothing is really bulletproof these days.
MFG Price at posting:
$8.72 Sentiment: None Disclosure: Not Held
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