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Yankee Traveler
Well-Known Member
Well...I'm willing to bet some guy bought them at $.0455 and refused to sell them until it came back up and ended up trying to stop the bleeding at $.01645.I'm sick to my stomach today because of how stupid I feel.
I've been playing around the stock market with one of my IRAs.
Two weeks ago, I had $70,000 sitting in my cash investment account. I was looking around the penny stocks and found one.
IMH Impact Mortgage Holdings. Price per share = $.005. I bought 100,000 shares = $500
Last week it moved up to $.0455 a share and then started to drop. I sold my 100,000 shares at $.0415 = $4,150. I felt like a smart guy making $3600 on a penny stock.
But wait one minute.
Why didn't I buy 14,000,000 share with the entire $70,000? If I'd sold 14,000,000 shares at $.0415 I would have made $501,000. That was pretty stupid not taking that chance.
Until Today:
IMH today has lost .0155 a share and has fallen to $.1645 a share.
If I had invested the $70,000 and purchased 14,000,000 shares two weeks ago, I could sell them today for:
$2,303,000.
Want to talk about feeling stupid????
That could make a man feel dumb.