Everyone often mentions their best stock trade but not their worst. We all have winners and losers but it is the winners that stick with us.
However I have one stock that just keeps eating away at me. It is a Canadian energy stock called Surge Energy. I bought it at a time when energy stocks were starting to drop for 0.99 cents and thought I made a good deal. After continuing years of dropping oil prices I finally gave up on it and sold my 2062 shares for a whole 0.19 cents each. I bagged less than 400 dollars.
Of course shortly after I sold it oil went on a run that continues today. I had waited years for oil to start rising and it took my selling out before it would rise. June 8th Surge energy hit 13.37 a share. If I had sold June 8th I would had made 27,569 dollars....instead of 400. I would have made 27 thousand more dollars.
This was just 20 months after I sold.
I know hindsight is 20/20 but still I can't get over that one. Burn.....
My Worst Stock Trade Ever
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- Video Poker Master
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Hard to pick just one, but on the energy theme, a decade ago I bought coal miner Peabody (BTU). Rode it all the way down to bankruptcy in 2017. Bought the new shares in 2020 for as little as a dollar, and later sold out around 4 for a nice profit, but still a big loss all told.
Recently this year it traded above 32. I'm a two-time failure.
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- Video Poker Master
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What got me interested in the market was my first wife was getting given stock by her grandfather in early 1980s. Niagra Mohawk power (NKM) one day if fell 3 bucks from 21 to 18 and I told her she needs to sell since they was working on a nuke plant and it was in trouble. Utiliy stocks did not move much back then. I got her to sell at 16, her sister and brother waited till 6.
My first ever trade was in the early 80s I bought 100 sh of Boeing (BA) sold the next day make $100 I was hooked.
I was then watching a stock called Micron Tech (MU) it goes up day after day I buy 100 @86, I swear to you it was the very top it dropped to 15 and I sat on it for 12 years. It starts making its way up got to 80 I was waiting for 86 to sell, its going down I sell in the 50s it turns on a dime goes over 100 and splits 2 for one.
Now my disaster in late 1999 to 2001 see Yahoo.com (YHOO) its high was 250 I start buying when it breaks 100 was all in in the 80s, it falls to 9 bucks, I sell all at 11. It gets bought out by Time Warner years later in the 20s or 30s. I went bust to this day I still take 3k write off on my taxes every year.
I only day trade or might hold over night small positions, people are getting killed, just like I did by holding and praying it comes back. The Fed is in control, until rates stop going up market is going down. There is a big rally coming soon market over sold and to many are short.
My first ever trade was in the early 80s I bought 100 sh of Boeing (BA) sold the next day make $100 I was hooked.
I was then watching a stock called Micron Tech (MU) it goes up day after day I buy 100 @86, I swear to you it was the very top it dropped to 15 and I sat on it for 12 years. It starts making its way up got to 80 I was waiting for 86 to sell, its going down I sell in the 50s it turns on a dime goes over 100 and splits 2 for one.
Now my disaster in late 1999 to 2001 see Yahoo.com (YHOO) its high was 250 I start buying when it breaks 100 was all in in the 80s, it falls to 9 bucks, I sell all at 11. It gets bought out by Time Warner years later in the 20s or 30s. I went bust to this day I still take 3k write off on my taxes every year.
I only day trade or might hold over night small positions, people are getting killed, just like I did by holding and praying it comes back. The Fed is in control, until rates stop going up market is going down. There is a big rally coming soon market over sold and to many are short.
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- Video Poker Master
- Posts: 1425
- Joined: Mon Apr 29, 2019 8:24 am