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The Waffle | Can anyone give some stock market advice? |
I bought 2000 stocks in NSTC (ness technology) at $5.92 per stock. It's now at $4.77, meaning I've lost about $2,290. I want to sell and weather the loss, but can someone look at the company and tell me what would be the smartest thing to do? |
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Jay
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Firstly - My thoughts on where the market is going next week. I think it will be rough on opening monday, but we should see a Thanksgiving day rally next week!! Oh, Thurs/Fri should be down days. It's option expiry
My advice is to sell a "portion" of your position Monday, preferably in the late afternoon. I think we will see an upswing in the midday. When the rally comes, which I think it will on Tuesday. Don't be greedy. There is a saying "Pigs get slaughtered". SELL IT ALL. Just get rid off it and break even or even make a VERY small profit.
I'm assuming this is your only holding. If so, Diversify next time!! Don't put all your eggs in one basket. Stay out of tech stocks! Horrible, Look at Apple's(AAPL) chart for example.
**TIP** When we rally next week. Don't think it will stay like this, it's only temporary. The market WILL continue to go DOWN after. I'm not a bear by nature, it's just that the U$ economy(and the world) is in or entering a sharp recession. If you're not familiar with the stock market. Stay cash! "cash is king"
Hope this helps!!
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ledge
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Don't use Yahoo Answers for financial advice. |
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beancounter
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I took a (very) quick look at their financial statements. They're a little more leveraged than I'd like in this environment but not drastically so. And their earnings growth has been very impressive over the last 5 years or so. Just from looking at those I'd say they're likely to do well if they don't have their credit pulled from them. Good upside but slightly risky.
I don't know anything about them other than that. I also don't know how large a percent of your savings are with them.
Off the top of my head I wouldn't want all my savings invested in them. But presumably you have reasons for liking the company since you invested in them in the first place. Maybe keep a small percent of your capital in them if you have reasons to believe they'll continue to grow?
To answer your question - I don't know what the smartest thing to do is but maybe I've provided some food for thought. |
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Kevin R
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I don't know you, so it's impossible to say what's smart for you. I'd buy 600 more shares averaging down. It's not a company I follow, but I like the numbers. Good management too. The only reason to sell, for me, would be to offset other gains for tax reasons.
Have the reasons you bought changed? Is it keeping you awake at night? Are you going to buy something else? If the only reason you wish to sell at this point is due to the decline in price, get out. While you still have sanity. Mine left years ago. I'm buying 400 Monday morning. Thanks. |
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Derek (Steelers, SB champs)
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You should have had a target price set, at which point either higher or lower than what you paid at which you were willing to sell.
I'd hold. If it goes down to $4.00, you might want to consider selling. |
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Wuviewoo
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buy low sell high |
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Andrew K
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I would sell and get out of this tumultuous market. Unless you are really brave and have some money to lose. |
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Peter
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If you are not experienced with this I would recommend trying a stocks simulator so you don't lose real money. I recommend www.stocksquest.com. This is a free program and you will get a better understanding of the stock market. A good rule of thumb is to research before you buy and buy low sell high. |
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LT
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I could only wish $2290 was all I have lost...I quit counting when the amount went past $100,000 and I have lost a lot more after that so I don't want to know. No one can give you a good answer as there are smarter investors than I who had lost a lot of money and don't have the answer. If you want to make money I'd say stick it out... but you could lost it all also. |
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uhpharm01
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Please read How to Make Money in Stocks by Williams O'neil.
Try to stick to stocks that are necessities like gas and electricity |
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loselose
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sell, it will drop lower. in this market if you have extra cash that you won't need for the next 5+ years, buy in to mutual funds that focus on the US market. and weather the storm. so you are not betting lots of money in just one company.
Ask the mutual fund management company or any advisor to look up funds that owns NSTC as part of the portfolio. Or just look online. |
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DJG INC
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Sell |
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sm_humphries
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The market has decreased vast amounts in all areas and companies. Eventually it should come back up. I would wait it out and do some research of the company itself. Depends on if you need the money right now. If you are looking for some companies to invest in I would go with UNM (Unum Group) right now they are about $15.04 per share and should come back up to about $30 per share soon. |
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