Lesson Learned: fools rush in
Fearing that I might miss the run up in energy stocks, I rushed in February, oil prices fell off in March, and I missed some meaningful profit. :( All is not lost though, because I'm still up a meaningful amount. However, a little patience would have allowed me to buy everything cheaper. Bottom line, market timing is a fool's game, especially if the fool makes fear-based investing decisions.
We'll see how things go this summer.
Missed opportunity: Refining company stocks like Valero, Tesoro, HollyFrontier. I will check more into HollyFrontier and may invest.
In the meantime, I made a lousy play in the "budding" medical marijuana space, and quickly got out of it the next for a loss of around $30 including trading fees. Lesson Learned: Do your due diligence BEFORE you invest. The company sells a promising legit dispensary product, and runs a slick website, but the CEO is a criminal. Oh and it was not a penny stock when I invested, but it became one in the months after I jumped out. Instead of losing around $450, I only lost $30 for a 6% loss. Thankful for that.
Now for the good news. The only penny stock I've ever invested in netted me some impressive gains, percentage-wise anyway. Between my IRA and a taxable acount, I bought 5400 shares of it for an average of .30 per share. This stock never dips below .20 so getting it for an average of .30 is usually good. I sold for an average of .76 per share and netted roughly $2400 after commissions and surcharges, and $3200 total since I've been trading this penny stock. Not bad, and I'll be looking for other opportunities, and doing some serious due diligence to avoid any pos companies.
Going to pick up a couple of investing books: The Intelligent Investor (which probably says to avoid penny stocks lol), and One up on Wall Street.
Also watched The Wolf of Wall Street. Entertaining and interesting.
And read this article: