All of it.
To which the proper response should be, "What-what-what?!???!?!", since I've been writing compulsively about how great the stock is for the past 3 months.
What was the turning point, you ask? What was the straw that broke the camel's back?
It was after purchasing more stock just two days earlier, and noticing that over the past year, I had bought the stock at the following prices: $1.73, $2.10, $1.88, $1.05, $0.92, $0.68, and $0.44.
And then I had to ask myself: "what the #&*% am I doing??" Even though I already knew.
I was catching the falling knife. Hoping instead of investing. Bottom-feeding. Trying to be a hero. Fighting the market. Pretending I knew something that the market didn't. Pretending that the market was dead wrong.
And I arrogantly kept betting on a losing stock, only to watch it lose further.
DCA'ing did help me to lose "only" 51%. However, I did watch the stock plummet 90% from its high earlier this year.
Absolutely inexcusable. And it had to come to an end, while I still had some of my money left to save.
It was a painful experience, but that makes it that much easier to remember, so that it won't be repeated. Ever. Again.
Lessons:
- Don't buy stocks that trade on the pink sheets.
- Don't buy stocks of companies that are exiting bankruptcy, by issuing new common stock (most likely resulting in the screwing of owners of the old common; in this particular case, that would entail having the old shares convert into warrants and option-like stock rights).
- Don't let stocks fall by more than a third from their highs.
As for DPHIQ.PK the stock, you're dead to me.
