Patrick's Rants


VG – Out

Filed under: Money,Stocks — site admin @ 6:50 am

I closed my 300 shares of VG yesterday at $2.49. Looking at the recent chart that’s where the resistance was coming in and looked to be the most likely price to sell. It did not perform anything like what I originally expected, but I did manage to close it for just over an 8% gain. It took nearly a year to do it too. This is the reason to look carefully at any stock for purchase. If I had not been willing to continue holding VG, I would most likely have lost money. The screeners that I run are supposed to find stocks that have positive value, actually have sales and aren’t losing money as a company. Although the screeners are not perfect, as my trades in ABAT show, they are designed to find companies that are “ok” to hold onto for a long time – if I have to.

Bottom line on VG – and trading – is set yourself some rules. You can use rules that others have come up with if they make sense to you. But set some rules. How much are you willing to invest in each stock? How much are you willing to lose on each stock? When do you cut your loses?

This is what I’m doing in my own account, I sometimes make changes that I don’t write about here – lowering my sale price on VG, for instance. You must do your own research and due diligence. The examples here are for informational, educational and entertainment purposes only. Isn’t it fun watching me lose from time to time?

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