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July 22, 2011
Edited: July 24, 2011
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It was a tough week for our dear friend, who I affectionately call the Joe-ker. He was battered from multiple members of our community, the least being his major lost on the 'war on words' on Apple (AAPL).
As he does quite often, he attempted to DIVERT attention from Apple to a discussion on Chipote (CMG) out of the blue, which no one was talking about at the time. I don't understand his stance since Chipote was one of my very big winners, all transactions I made in the last 9-10 months were all profitable, 100%. Remember, I didn't bring this up..he did.. in yet another blog about me.
He brings something up along the lines of 7% losses. He STILL doesn't understand what this is. It's very simple. If my overall cost basis on a given stock drops below 7% ON AVERAGE, I would consider selling it..that is.. cutting losses short. Now here's an example. Say I buy 100 shares of a stock at 30.00 a share. Later I buy another 100 shares of the same stock at 40.00 a share. That makes my average cost basis on the holding at 35.00. The stock had to drop an average in this case of 7% off the 35 average for me to consider selling it. The Joe-ker doesn't get that or if his does, he attempts to use DECEPTION to indicate I sold the stock. Also I try to keep my losses at an AVERAGE of 7%. Some stocks with low beta, I might consider selling at 3-4% loss, some with high beta, I might consider holding to 10-15 loss....or I might not even sell at all, instead hedging with options.
JJJ's attempt to discredit me is well known on this site. He has failed miserably and has failed on a number of other winning participants.
Some of the contributors has stated for me to ignore the Joe-ker. That is something I am seriously considering. This isn't fantasy football where players do 'smak' talk at each other at the time. Yet Joe has made this his pasttime on this site. This site is meant to learn from each other and that is where I will be heading...
As such, to avoid silly conversation with the Joe-ker, the site does not allow us to disallow comments but it does allow the blog author to remove their comments. Effectively immediately, I will do so with the Joe-ker. I sense that some of you might come on this site to see the ongoings between JJJ and myself. Sorry, that will no longer occur. All and I repeat all comments received from JJJ will be removed.
I truly believe, in my opinion, JJJ has so much time on his hands, that he uses this site mainly for daily entertainment. The rest of us have more important matters to attend to.
So Joe, it's been fun at time, but that time is needed on more serious matters. I wish you well.
