Say no to Jump and Dump stock investments

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Wow... A couple of months ago, I had purchased a bunch of stock, hoping to make a quick profit and then dump them again. I should have known better than let greed or money make the decision. I bought stock and it started going down, I'm almost getting used to it. Now, due to playing with the idea of getting a new (or second hand) car, I could use the money I invested earlier.

Yesterday I had put in a sell order for GIMV, because the value was rising slowly, and I hoped over the next couple of weeks it would reach my break even point at which I could sell again without loss (including taxes etc). Imagine my suprise when it already happened today! In fact, I could have sold at an even higher value, but I'm happy with the outcome : a tiny profit (22 euro) and cash I can use.

So, what's the lesson I learned from this? Invest in things I believe in, and not because I want to make a quick profit. It just shows that I'm much better off with a long term investment, opposed to jump and dump stocks.

In the mean time, the following stocks are still way under par for me : Telenet (no real suprise there), Unilever (dumping them as soon as they are break even), and ATX Communications (99.9% loss).

In 2005, I was able to get a good return on : Elia, and my various "green" investments.

1 Comment

;)
unilever ;)
i'm keeping them

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This page contains a single entry by ServMe published on January 5, 2006 3:03 PM.

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