WCOM Trade #4

Ah, WCOM Trade #4

Trade Rank: 104

WCOM Trade #4 began April 29, 1999. The first of 356 purchases was for $83. The last sale was at a whopping price of $1.721 on May 30, 2002 - nearly the entire cost of the stock - OUCH!

I bought and sold it all the way down for 1,127 days. STOP-LOSSES were used several times but as it dropped lower and lower I kept on buying it, each time thinking that each lower entry price was better than the last. Talk about an education by fire! WCOM turned out to be one of the biggest accounting scandals of our time, joining the likes of Enron as a fabrication of manipulated, fraudulent financial strategies that ultimately destroyed shareholders, employees, families and friends.

These scandals teach and remind us to remain skeptical and never trust entirely when you invest your honest, hard-earned money.

Trading Tide Levels:
  • Mid Tide (S&P closed at 2859 on May 17, 2019 coming off a Low Tide of 2801 on May 13, 2019 and a High Tide of 2954 on May 1, 2019)
  • Spring/Neap Tide (VIX rose to 17.63 this morning after closing at 15.96 on May 17, 2019)
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This is for informational purposes only and the information provided does not encompass all possible or probable outcomes and nothing posted here is an indication of future results. Nothing in this blog is a guarantee or promise of future investment returns and investing in stocks or bonds carries risks including losing your entire investment. I do not recommend, advocate or endorse any third-party links, resources or advertisements of any kind. Any investment decisions are recommended to be in conjunction with a Certified Financial Planner, a comprehensive and personal financial plan and all other components that make up your own financial situation.

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