Those folks who are up big on these marijuana stocks (and other speculative stocks) ... Just bear in mind two things that Jim Cramer says all the time. Bulls make money, bears make money, pigs get slaughtered. And ... Nobody ever got hurt by taking a profit.
If you have something that's up big, consider selling enough to cover your initial investment and let the rest run. Then you can't lose.
Now that I'm out of the position, I'll tell you about my big hit: New Flyer Industries. They build city buses. I bought this in 2009 in the midst of the recession-depression because I figured that we're always going to need buses, and it paid a good but not excessive dividend (which is a mandatory condition for me to own ANY stock). I never paid more than 10 bucks for a single share. Then I sat on it and forgot about it for 7 years. During that time the dividends covered a good chunk of my initial investment. Sometime this past year I figured maybe I should look at it again, and it was near $30. I sold a third of my position and placed a limit order sell for the next third a little higher than that, and the last third a little above that yet again (this was around April of this year) and by golly those orders all got filled over the next few weeks, taking me completely out and almost quadrupling my initial investment in the process. It has gone up more since then but know what ... I'm ok with that. I made something on it, now it can be someone else's turn.
I just wish that quadruple involved more than a few hundred shares ... but that's all I had at the time to invest. It still paid for my new car ...
I still own shares of a few companies that I bought back then which have paid out about as much in dividends since then as what my initial investment was. No other quadruples, though. And, unfortunately, not enough to retire on.
If you have something that's up big, consider selling enough to cover your initial investment and let the rest run. Then you can't lose.
Now that I'm out of the position, I'll tell you about my big hit: New Flyer Industries. They build city buses. I bought this in 2009 in the midst of the recession-depression because I figured that we're always going to need buses, and it paid a good but not excessive dividend (which is a mandatory condition for me to own ANY stock). I never paid more than 10 bucks for a single share. Then I sat on it and forgot about it for 7 years. During that time the dividends covered a good chunk of my initial investment. Sometime this past year I figured maybe I should look at it again, and it was near $30. I sold a third of my position and placed a limit order sell for the next third a little higher than that, and the last third a little above that yet again (this was around April of this year) and by golly those orders all got filled over the next few weeks, taking me completely out and almost quadrupling my initial investment in the process. It has gone up more since then but know what ... I'm ok with that. I made something on it, now it can be someone else's turn.
I just wish that quadruple involved more than a few hundred shares ... but that's all I had at the time to invest. It still paid for my new car ...
I still own shares of a few companies that I bought back then which have paid out about as much in dividends since then as what my initial investment was. No other quadruples, though. And, unfortunately, not enough to retire on.
