The Flow of Consciousness

This morning, my former flagship stock Spongetech Delivery Systems (SPNG) continued to fall after a brief higher start. I wrote Saturday about the massive hysteria and price massacre SPNG holders faced on Friday when a pump-and-dump dumped.

My holdings averaged around $0.112. I decided at open to put a stop limit at 0.15/0.14, but when the price hit the stop, it didn’t execute. Granted, I was selling 112,160 shares, so I figured that no one was looking to buy my sizable lots. By the time I refreshed the page corrected the stop limit to a limit, the price had dropped to $0.11. Crap, I thought to myself.

Keeping in mind my lessons from Friday, I held, but illogically kept my limit at $0.12. The order executed at $0.1201, and I found myself with a ~7% profit.

I can sit around and moan about how I could have had ~$16,000 more if I would have sold on Friday morning. I can beat myself up over my admittedly greedy decision not to take a profit to help boost my gain percentage. I can, and I will. I tend to learn from my mistakes, and no one can be more critical of me than myself.

However, a profit is a profit, no matter how much it is. Stock trading is not my livelihood; I have no quotas or needs to meet. @stockguy22 once said something similar to “Some people don’t make $100 in a day in hard labor; you made that much in a morning with the click of a mouse.”

This whole debacle has left me a little listless and depressed, and a few people have noticed and inquired. Most of my friends don’t have spare money they can throw at the stock market and make an extra few hundred dollars in a month. I’m trying not to moan too much, as I know it’s like someone complaining about getting a B instead of an A when everyone else is getting Cs. I’ll recover.

I think I owe a great thanks to Brigette for enduring my doldrums and taking my mind off of things when I can’t do anything about them except worry.

But hey, tomorrow’s another day on the market. I took another position in SPNG at $0.15 and plan to hold that for a while. It’s unlikely that I’ll take a larger position until I’m more confident that the stock is no longer being influenced by pump-and-dumpers. I’ve gotten a few other recommendations, and I’m cautiously listening and filtering, trying to find that wave again.