watso recalls that daywatso had large swag of shares in a gold...

watso recalls that day

watso had large swag of shares in a gold stock that had been trading at $6-$7. from memory, the stock dropped to about $3.50. in the afternoon session, there was a bit of a dead cat bounce, and the shares rallied to $4.50. watso was at the exchange (no computers then), in the public gallery, saw the buyers at $4.50 - he rushed upstairs to his brokers office, and placed his sell order. whoa - what a great move that was, as the stock over the next year or so, dropped to 60c. watso eventually bought back in, at $1.80, and then 90c - and the stock recovered to $6. watso probably sold at about $4 on the way back up.

lol - watso thought he had done well, by getting out of his gold stock, and then put the money into an industrial stock, run by some shysters. mind you, at the time, they seemed to be a pretty decent lot - but in the end, a couple of the directors ended up in jail. that was almost total wipeout for watso

risky game