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you did better than Warren Buffet, his takings most down at least 50%+. not too bad. add more money, buy more stuff or short more stuff, created a gigantic portifilio, will have more fun just a joke my serious suggestion, close all your positions, and withdraw 80~90% of your account value, left 0.3k ~0.5k money in your account. if you lose the remainings, you need say to yourself: bye bye market, no more, leave the marhet for good
First piece of advice sell all your aig shares if they open up tomorrow. Then get short. You're on the wrong side of that trade for sure. I can't believe they fooled anybody with that reverse split.
One mistake can ruin all the life. Average down, it is the cause make me loss 30K on MRNA. I was doing average down many times, and never has problem until this time. I have 200K in assets and 10K to buy MRNA at start. When MRNA goes down, I add more to 60K. Unfortunately, MRNA did not go back this time. I finally stopped out with 30K loss.
More good advice. I don't understand what he is trying to accomplish. Obviously the long/short approach isn't working. This is one of the worst markets in memory. I know veteran traders who consider it virtually untradeable. Not the time to be in margin or bet the ranch.
Hi, millerbdog, AIG really confuse me. The reason I bought is they have book value over $300 and now trade at $13. I think they still have 30 B on balance sheet and assets at 600B. It is true that they may loss over 30B in a sudden on that 600B (just need to loss 5% of its asset) and make the stock worthless, but they are also actively selling their assets to make the leverage down. Another confuse is the government bailout. I think government give 100B loan to them? which should on the liability on the balance sheet. News said government has 80% stake on the company? I think they still did not exchange loan to common stock. If they exchange, total shareholder equity become 130B and current holder has 20B in control and the book value is still over $200. Not sure if I am right on AIG. But my thinking is the reward looks greater than the risk.
I have a feeling this may be Mr. 40 Aliases (Cold/c-kid, Jasonn...). He has a history of shock titles and this looks his M.O.