[quote=5yearwaiter][quote=flu]So I sort of bought this stock accidentally. Back in mid-december, instead of entering VLO I fat-fingered and entered VLP and the order executed before I had a chance to cancel it… Oops…
Purchase price was around $29.50. Have no fricking clue about it, and am deciding whether to keep it or leave it. Volume is ridiculously low (maybe since the holidays + IPO)….
Thoughts?
Keep or dump?
What the heck are MLP’s?[/quote]
Flu how did you get this kind of pic exactly few weeks back and what that wiz mind back on this selections? or any links where we can gain some knowledge on this kind of spot gains?[/quote]
Sure….I woke up one day in mid december and got out my wall street journal (the one someone that someone on my street didn’t steal), put it on my dartboard, and threw a dart at the stock quotes section…. It landed at VLO….I was in a hurry to go to work, and wasn’t paying attention so I entered VLP instead of VLO and hit, “buy”…Since I disabled order confirmation, it executed without asking me “are you sure?”…..Went to work and got an email confirmation that I bought VLP instead of VLO and started crapping in my pants…Didn’t do much since it wasn’t moving and I didn’t want additional tax consequences from selling something this year….So I held on, not knowing what the heck it is..
You can try the same strategy, because I found out for me, it’s a lot more effective than if I actually try to rationalize what is a good buy and what isn’t….Ok, maybe not *that* random….. But if you think this had anything to do with my stock picking skills, you can rest assure that 100% it is not….
If you don’t believe me, just ask AN, because hecan tell you everytime I am off…Way off….Because he usually gets to hear every foul thing out of my mouth when I am….
Strategy #2 that works is (1) find out what I’m selling… (2) Buy whatever I sell immediately right after I sell… And if you hear me short sell anything, immediately dump your life savings into a long position…Example, see, if I was smart, back in the beginning of the year, I would have kept VLO when it was in the mid-20ies…Just like another gentleman that use to post here with the handle desmond…I think I bought and sold bought and sold a few times trying to grab a few bucks of gain each time…Then things kept going up and up…First it was the thirties, then the thirty fives…Then the forties….
Then there was the posts I made about what a joke FB was at $18/share….Thankfully my dad didn’t listen to me. He went ahead and bought it anyway… Things got really “interesting” when I opened a tiny short position in the 40ies…. You know what, never mind… Don’t go there…
You get my point? Take a contrarian position to what I do. And you will do fine…….I don’t mind turning everyone else around me into great stock pickers with my contrarian indicators based on my own (lack of abilities)….You are welcome.
Happy New Year. And may you have a prosperous 2014 by doing exactly the opposite of what I do… 🙂
