March 22, 2010 by esarsea
After getting burned by Rudy (and taking an extended break), I decided to once again roll the dice on a penny stock.
A few months ago I bought 180,000 shares of RMDM at $0.001 per share for $180 plus commission. Good fortune followed, and the stock quickly rose to $0.0015, a 50% gain! I set a sell order at $0.002 and figured I would get out if I doubled my money.
We never quite got to $0.002. In fact, we didn’t stay above $0.001 very long. RMDM has been trading for $0.0003 and $0.0004 for the past several weeks. So what’s a person to do? Buy more! Today I purchased 235,000 more shares at $0.0004 for $94 plus commission.
Before you think I have lost my mind, consider this. Previously, I had 180,000 shares at $0.001. Now I have 415,000 shares at an average price of $0.00066. My purchase has effectively lowered the price I paid for my first 180,000 by nearly half. Before, if RMDM went back up to $0.001 I would have broken even. Now if RMDM goes back up to $0.001 I stand to gain $141 over my $275 investment – a nice 51% return.
I know, it’s small potatoes…but I find it entertaining!