At what point do you chase a stock tip from a friend that turns out to be true?

CHOPTALK · May 15, 2011

I want to puke right about now.

I have a friend who gave me a stock tip about 6 months ago that was trading at less then $1 a share, now its already a 7 bagger with no end in sight.

Less then a dollar to almost $7 in less then 6 months.

He is shoving it in my face telling me he has already made over 100K on this investment, and im like WTF!!

I am sick to my stomach.

The reason I did not want in on it is because this guy is not exactly Warren Buffet.

He is the classic example of the blind squirrel finding a nut.

I have lost a few bucks on one of his other tips.

It looks like he found a real winner here.

A stock that trades on the OTC that is getting uplisted to the NASDAQ.

I could have got in at .80 cents. Now its almost $7.

Did I miss the boat, or should I jump in anyway.

I cant believe I missed out on this stock.

I hate missing the correct entry point.

Its a great stock, but man I would hate to see it go up to $50.

What to do

CHOPTALK · May 15, 2011

The thing that sucks is, even If I buy a 1000 shares and it goes up to $50 I will still be sick knowing I could have bought 10000 shares for almost the same price 6 months ago. Even if it runs up im still a loser.

That would be like winning a 10 team parley only risking $2 bucks.
Your still mad because you only bet $2 bucks.

I guess I blew it, no matter how you look at it.

DeathEatsaCracker · May 15, 2011

You sound like me. I beat myself up daily for my idiocy.

I bought SLW at $3.13, but only 300 shares. I traded in and out before finally selling out completely at $19. While I did ok, I never owned more than 500 shares. It peaked a few weeks ago at $47. This was the stock that could have made me rich and I blew it.

Another time, I had DNDN for around $3.75. I had a GTC stop underneath it that was only there in the event of a catastrophic loss. Anyway, the stock started trending down, and I had no intention of selling it but had forgotten about the stop I had under it. Anyway, it hits my trigger point and the stock sells at like a 25% loss. I never bought back in and now it sits at $38.

I'm puking in my mouth right now just typing this. These two mistakes haunt me nearly every single day.

SmallDaddy · May 15, 2011

You could just let it go, cause it might come crash back down. Not losing any money is not a bad deal

Besides if the guy is not exactly Warren Buffet than he will likely lose it back on other picks

Or you could just do your homework on that stock. WHy was it down? Do they have a good product? Are they making money? WHo is pumping it, any of the big boys shorting it, etc...etc. If you think its still gonna go to 50, then you should get in, obviously

eek. · May 15, 2011

Distressed debt.
Worth 0.3 of a penny when I looked at them with a view to buying, or blowing the cash on a holiday.

http://www.londonstockexchange.com/...summary.html?fourWayKey=GB00B0CL3P62GGGBXASQ1

I would have got at least 500,000 of them, but went to Ireland instead.

Now 41p a pop($200,000+) and producing $5000+ a quarter divi income. :grandmais

I would never have needed to work again....

##)

Life laffs at ya. Then you die.

(I presume that God has another purpose for me, dang)

snoop · May 15, 2011

If I plow all my $$$ into stocks in March low in 09', I could be on my way to retire now.

It's Tiz's fault. His bearish sentiment scared the shit out of me.

CHOPTALK · May 16, 2011

Its a great product with pattens, but I still dont see how they make money.

SmallDaddy said:
You could just let it go, cause it might come crash back down. Not losing any money is not a bad deal

Besides if the guy is not exactly Warren Buffet than he will likely lose it back on other picks

Or you could just do your homework on that stock. WHy was it down? Do they have a good product? Are they making money? WHo is pumping it, any of the big boys shorting it, etc...etc. If you think its still gonna go to 50, then you should get in, obviously

CHOPTALK · May 19, 2011

yuck, up another buck since I posted this 3 days ago.

8bagger now.

I will never forget this lost opportunity.

PatsFan1283 · May 19, 2011

Eh try to let it go. $ comes and goes and I'm sure the dude who gave you the tip totally luckboxed his way into it. Anyone can get lucky, it happens. You can't let people getting lucky get you down. In a global economy people are going to get lucky and people are going to be very unlucky everyday.

Phonebook · May 22, 2011

SFIO is about to be one of those stocks that people kick themselves about in the upcoming months. I got in at .01 and haven't sold ONE of my 328,000 shares yet. Can't say that I am not going to take profits soon....but I strongly believe that this is going to be a good stock to stick with in the near and long term.

mickj · May 23, 2011

Can you name it?

CHOPTALK · May 23, 2011

mickj said:
Can you name it?

MITK

They are not even on a major exchange although they will be uplisted to the Nasdaq in Sept.

CHOPTALK · Jul 21, 2011

This stock is really starting to get on my last nerve now

PickyourSpots · Aug 3, 2011

CHOPTALK said:
MITK

They are not even on a major exchange although they will be uplisted to the Nasdaq in Sept.

Good grief! $9.61 today.

hno:

At what point do you chase a stock tip from a friend that turns out to be true?

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