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I know that this may cause some hurt here, but honsety is still the best policy.
I have read here someone said China is low, and will not go lower, and time to buy. I do not mean that we shd not be a value invester, By all means, be one, and a smart one.
Alaways have a cut loss, dont be stubborn to hold your position still the mkt push down the px so low that make selling meaningless.
I m not selling, this is a value stock, i will wait till mkt realise it value, but in a mkt crash , everything will go down, even the deep blue are not spare. And worse is you keep averaging down, and in certain case like Gaoxian, they are down for a reason best known to BB, so u end up carrying the baby, like many Gaoxian invester and COSCO.
Look at COSCO, i believe there are someone here who bought at $7. i know some myself.and they in fact ave down on it way down.
COSCO today is a dollar stock, how deep is your losses if you listen way back to these so call CFA guy, calling a buy on the way down.
Low does not means it will not go lower, it can got to zero, like lehman, Bear stern. Ask those in 1929. I know mkt will come back, but that does not means your counter will follow,See s-chip, Sapphire. I remember when i come here it was a well publish stock of 34c if i remeber. today it is 12c. Qingmei 31c , today 7c. if you have a stop loss, today u will not be in pain.
Be a smart value invester, have a stop loss on your favourite value stock.
I do not mean to cause you unnecessary stress, but this is a fact, no one wnat to invest to loss, but it is better to take some losses then total disaster later on. It will save you alot of heartaches,
And believe me, come 2013, i will still be here hopefully,and also we will still have ppl repeating this mistake over and over again.
If you buy without a plan to cut loss, then better dont buy. save your heartaches for other thing, and if you refuse to take profit, and hold still long enoughto loss back all, forget abt stock , put that money in the bank.
May u all be well.
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