B Stuff et cetera

A blog about (snow)Boarding and Business school

My IFLI mistake

Posted by forlogos on December 19, 2006

Over a week ago I wanted to buy stocks of the International Fight League. The price was $3.50.

I searched and compared online brokerage houses and decided on TradeKing. The stock was rising.

It took 5 days to clear my savings account for ACH transfers to my TradeKing account. The stock rose some more.

When it finally cleared, I transferred money. I was told it will be reflected in my account later in the evening. It was, but was on a five-day hold since I had a new account. The stock had risen to almost $15.

Because I insisted on reducing my commissions to $5 a trade, I lost out on a quadrupling of the stock. I lost out. I should have a giant “L” on my forehead. I should’ve just bought the stocks right away with Vanguard ($15 commissions).

Good thing I didn’t buy at $15 though, it dropped down to $11…

All this dancing around of the stock price – – this is why I don’t buy individual stocks…

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2 Responses to “My IFLI mistake”

  1. david said

    i bought infli at 8…rode it up to 12…sold it…..4k in one week…going to buy it back soon….david

  2. forlogos said

    Nice going David! Congratulations!

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