re: ditch the dog or hold for a miracle? - kmnicho KeithCLB was...

re: ditch the dog or hold for a miracle? - kmnicho Keith

CLB was my biggest loss so far (80%). Humbling, though I already knew my skills are poor and time I dedicate to 'research' inadequate. Research reports tend to have an air of authority, especially to those depending on them. They can tempt people to forget that the spec market is filled with speculators and is a risky place for money. Ineptitude on my behalf aside, the decline in CLB sp was pretty spectacular, I don't know how to explain the depth and speed. It seems a situation that stop losses must have been designed for.

I took the loss months ago for 3 reasons: 1) needed money so had to liquidate something and opted not to sell better shares; 2) couldn't understand the dramatic decline and therefore couldn't be confident of similarly dramatic recovery; 3) preferred to break away rather than stew on failure and hope for a miracle - too draining, very boring and not always educational.

(While a loss can be used at tax-time - which dulls the pain, I don't pretend I wouldn't rather pay tax on a tidy profit).

Hope you haven't made too painful a loss. Don't beat yourself up over it, but best not to risk more than you can afford to lose, especially until you are confident in your ability, information and systems or strategies. Better hunting next time.

M2