aum

I don't how successful this strategy is.

This is where you think the market has bottomed so you get greedy and dive in only to see that the sellers are still machine gunning down the buyers on the bid.

Rather than take a loss, because let's face it who likes to admit it when they are wrong, you sit there and tell yourself that the stock will recover and you will make money soon.

You then try and think of every reason under the sun to keep holding onto the stock and you start posting those reasons on Hot Copper in a concealed attempt to push the stock higher.

Ah, remember CAZ everyone?

"It will be back to $2 before you know it!"

"There's no-way it will fall below 50c folks!"

You then start posting statements like "These sellers are so stupid, don't they realise that this stock is so under valued?"

Well it's called the buy and hope strategy. You buy something that you think is cheap and you hope that it goes up.

Taking a loss is out of question because that means you were wrong, right?

I remember doing this with Davnet. I'm still rubbing my 'bot-bot' over that one in 2000.