[geeks] NOW at GEEKS! Re: [rescue] SGI stock @ 53 cents

[Ken Hansen]

The money I spent on SGI stock was sitting idle in my account for over 6 months - what stock is worth buying a *couple* shares of, at $20 for the trade???  (Four shares of $25 or $30 stock would have to move 20-25% up just to *cover* the trading fee, then there would be another $20 for the sell-off!)

The $150 I spent was in my 401K account, so I have no *real* tax concerns unless I pull the money *out* for some reason...

Ken

-----Original Message-----
From: David Cantrell [mailto:david at cantrell.org.uk]
Sent: Wednesday, July 11, 2001 6:34 PM
To: geeks at sunhelp.org
Subject: Re: [geeks] NOW at GEEKS! Re: [rescue] SGI stock @ 53 cents


On Wed, Jul 11, 2001 at 06:42:07PM -0400, Jonathan Katz wrote:
> Ken wrote:
> > Having said that, I just placed an order for 200 shares at $.65/share (a
> > limit order) - this will be the first stock I own that i *bought* under
> > $1/share!
> 
> Pennystocks bad. I've lost my shirt there.

<nod nod> but if you have the money to spare, why not?  Just as long as
you remember that the stock market is nothing more or less than gambling,
and you should treat your personal 'investment' the same as you would the
money you take to the races - that is, you can afford to lose it, and
you certainly shouldn't expect to make a profit.

> > Then there is Red Hat @ $4/share - yesh, I can remember when... (Heck, Red
> > Hat paid for my Graduate School - quickly flipped some friends and family
> 
> Down-payment on the Jon-pad. e-trade didn't like me for that. Neither
> did the accountant.

I don't understand why an accountant would disapprove of you using the
money in such a responsible manner!  Surely the Jon-pad is now worth a
*lot* more than the shares would have been if you'd kept them, so it
seems pretty prudent to me :-)

-- 
David Cantrell | david at cantrell.org.uk | http://www.cantrell.org.uk/david/

       Defecate, don't decaffeinate!
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