Archive | 2.33

Consolidation

6 Apr

Some major changes needs to be taken place to consolidate all of my holdings.  I have gone overboard with sporadic buys in stocks without much thought to them.  Borrowing and using margin to make new investments isn’t that cost efficient when they aren’t making money for you.   It’s time to re-evaluate my portfolio.  Smart decisions should be made by selling some losers and winners to clean up what I have made a mess of.

I am hitting myself over with RIM.  I had a gain of over a thousand bucks.  I was told to sell it before the earning release on March 31st.  But I was stubborn and wanted to see more gains.  I held on.  It dropped down to my buy in price… I panicked and sold out at break even.  Today it was up 4%, a profit of $300 if I had held on. 

This is not the first time either.  I did the same thing with BGEM (100% potential profit) and NOT ($900 profit)… now it’s down in the dumps.  I’m too greedy and unwilling to let go of a good thing till it crashes and burns!

I could have made $2500 in the short time span … instead I’m down $1000 of my own money.

This goes to show you that one should take profit whenever they can.  It’s hard making up lost grounds!