I bought cytr at 6...now don't laugh, I think I was in a hurry and hit the wrong symbol. I think I wanted to buy cnty instead. So now that it has tanked to about 1, I am wondering if I should just average down, (luckily I only have 500 shares...my one good move in all this mess.)
My question is am I just throwing good money after bad...is there any hope at all for this stock or should I just chalk it up to a learning experience. I am not going to sell it until it at least breaks even for me, (IF EVER!!) but if I average down I can get the break even point down so much lower and then get rid of it sooner. I have looked at the chart every which way possible and still have no idea what I should do. I really have no idea what it was doing on my list in the first place. My new thought on buying stocks is "buy slow, sell high".

Hi Tp. Your story reminds me of my first venture into the markets with mutual funds back in 98...and then came the crash (or correction or whatever it was). It was a time before I new of TW and what he teaches. I relied on the great returns advertised by all the Canadian banks and bought, you guessed it, right at the top and got to ride it down to its bottom. I had no clue what I should have done.

I do not need to worry about being in that situation again as I will probably not have very much at risk in any one trade, and yet I have been able to position myself for unbelievable potential. A key to this is understanding position sizing relative to your trading style. I posted on this a short while back and you may wish to review it.

Based solely on the fact that you mentioned that the trade was a mistake from the beginning, you should not throw any more money into it. The funds you have for trading purposes would serve you much better if you were to select other stocks that fit your buying criteria. These stocks will more than likely be the building block for your account rather than one you have already developed a hatred for.

If we were to look at CYTR from an unbiased perspective, it is starting to level out of the steep down trend into its low range. Watch to see if it developes some solid support here and begins to channel. Investolators would like to see relatively quiet volume, and it is occuring, over this time frame lending confidence that bargain prices are here. All in all, there appears to be no rush to get into this stock at present, unless one has lots of money and is impatient. Time will see this stock move into a rise again, but we can't be to sure just when that will be.

http://www.bigcharts.com/custom/investorline-com/investorline.asp?sid=1494&o_symb=US%3Acytr&symb=US%3Acytr&time=9&comp=&compidx=aaaaa%3A0&country=US&draw.x=44&draw.y=10

Tp, for your information, I have made a lot of mistakes in real trades, losing real money. It has all been a very valuable learning experience. It probably would be best if you could view it from that perspective as well. Look for ways to limit your risk exposure while at the same time positioning yourself for long term capital gains.

Lester.

Thanks for your response. Looking at it from the point of view that I do dislike this stock, I think I will just forget about it for a while and look at it every so often and see if it improves and not have it eat away at me. It was just a very very small part of my stock portfolio, and most of mine are doing pretty good, just a few losers still that seem to be picking up. I just was very lucky at first, up 80 percent overall in six weeks, (thank you Ted Warren) with the biggest one up 500 percent. Luckily I sold most of the big gainers and have not reinvested it yet...going slow this time! Some I should have sold, (they were close to 100 percent, not quite, but it just seemed to happen so fast that I didn't think that was it)....and on some of them the distribution just wasn't there. I have come to realize that when Ted says sell when it breaks the 45 degree, we should really believe him, especially when it is a very fast rise.
I actually think this recent correction was a very good learning tool for me...and good thing it happened so early in my trading. Sometimes on the very low priced stocks it hard to tell if it is the distribution or a very hard shakeout, at least for me since I am somewhat new to this.
Thanks again.

TP, I know the orig message was posted a while back but here's my two cents on your mistake ... I went to that link that Lester posted and then clicked on "all data" to see beyond the 2 year point of view. I'd say there is easily 200 to 300 percent potential in the stock, based on where you bought it ... an excellent TW stock, you simply bought on a false start. I'd do just what you were talking about ... just hold and watch for it to go to 20. Good luck

dc

Hello dc. I checked out CYTR and I like this stock. I plan to watch it because I think it has great potential.

Hello tp,i enrolled at that school myself.Bought two investolarer stocks close to the end of the fast rise.they tumbled that quick at i ate it.I have positioned myself so it won't happen again.This was just three Mo. ago.I would not dollar cost average CYTR because you are probably going to have to wait for some basing to be completed before another rise.This could take from 1-3 years or longer.There may be some little rallies inbetween for those speculative day traders.And i gather you don't care for the stock from the beginning.Your hope, is that eventually it will rise again.Take your extra bucks and carefully buy a TW stock.Have a good day.