"It was a risky Kamikaze move, but it paid great dividends.
Once I got my break-even point to $1.25, I sold all The MSB shares purchased earlier at over $1.50 to cover some capital gains that were due."
How could you have possibly have broken even when the price has hardly ever been below 1.25 (not since 2009, and I'm sure your weren't a holder then)? You could only have bought higher than that price and compounded losses with each successive buy...correct me if I'm wrong.
So, you made or lost money when averaging down on MSB? It sounds like you went out of your way to incur a Cap Loss to offset against Cap Gains elsewhere. Nothing wrong with this...tax loss selling (plenty wrong with averaging down)...but pls don't pretend you made money, or even broke even... by averaging down. The numbers don't jive.
Am I missing something?
P.S It seems you salvaged what what was left, and bot another stock (CUV), which has risen for you.
Which is exactly what I was saying in the Post to which you responded.
And why are you ashamed of making money, even if said in jest? Must be some kind of medieval religious motive here ("filthy lucre" etc...)
BTW, kamikaze went out of style around 1945 or so.... with the exception of the literary trope I employed when I used the term.... the expected kamikaze wave of sellers expected if / when price reaches their entry point, and they can't wait to sell and "break even", after endless years of painful draw down.
Another exception would be artfully and rapidly capturing a stock at a low before a reversal (which is literally impossible with a constantly falling stock).
P.S Were you also long SGH? DSH? All the way to the bottom? To maximize losses to offset against huge Cap Gains elsewhere and minimize tax?
PPS It's better to make money and pay the tax on it, than to not make it all.
Thanks
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Last
97.0¢ |
Change
-0.005(0.51%) |
Mkt cap ! $1.107B |
Open | High | Low | Value | Volume |
98.5¢ | 98.5¢ | 96.0¢ | $2.168M | 2.226M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 16000 | 96.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
97.0¢ | 86854 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 16000 | 0.965 |
1 | 23000 | 0.960 |
8 | 163220 | 0.955 |
8 | 87646 | 0.950 |
3 | 82684 | 0.945 |
Price($) | Vol. | No. |
---|---|---|
0.970 | 86854 | 7 |
0.975 | 37184 | 2 |
0.980 | 44810 | 6 |
0.985 | 88504 | 4 |
0.990 | 54328 | 5 |
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