stock market

Tue Aug 24, 2004 12:00 am

Hey, when would everyone advise selling on a stock? I have one stock that is at 28...which is +86% over what I paid for it...is that usually when stocks top out? should I hang on for the ride?

(I realize that noone KNOWS what to do, but I'm wondering what everyones philosphy on the market is)

Tue Aug 24, 2004 12:54 am

The selling point all depends on your financial needs. Personally, I never sell under 55, and I usually wait until it hits 60. This gives me a 300 percent profit on my initial investment (on stocks that I buy at 15 per share). It does involve a great deal of patience though. It often takes a few months before a stock will start cycling up to the 60ish point.

Have you taken a look at neodaq.com yet?? They have a good instructional guide on the stock market, as well as an Excel spreadsheet that you can use to track your stocks. It's great!

Tue Aug 24, 2004 1:36 am

Thanks! I knew I remembered seeing a guide once before, but after I couldn't find it on here I didn't know where to look.

I don't mind waiting, I was more concerned with whether waiting paid off- I was concerened that the stock would fluctuate wildly, instead of maintaining a (somewhat) steady climb...

I'll stick it out and see where they land...thanks!

Tue Aug 24, 2004 6:56 am

You're most welcome! And, yes, waiting does pay off!! I've earned about 2 million on the stock market in the last 7 months or so. Try to buy 1000 shares per day (that's the most you are allowed to buy each day) at around 15-16 points each for the maximum profit. Then wait until they hit around 60 to cash them in. Of course, you can sell them off earlier if you have an immediate need for the NPs! A lot of players sell at 45. I like to wait til 60 though, so I have a 300 percent profit margin. I only wish I had discovered the benefits of the stock market earlier!