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Vengence Is Sweet

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November 19, 2008 – Comments (2) | RELATED TICKERS: DRYS

One of the earlier stocks I made a call on in CAPS was Dry Ships. I coattailed TMFEldrehad (who was coattailing TMFOtter) and made an underperform call. The stock promptly took off and at one point I was minus 1000 on it.

But I never changed my fundamental opinion of the company and never closed the pick. It was dreck when I made the call and it's still dreck.

Today I closed the pick at plus 13 points and change. The market finally caught up with Bill's insight and the stock price tanked. It took more than two years, but closing that sucker out at a profit was mighty tasty.

All I can say is "BWAHAHAHAHA!"

Chris - this game is over, but The Game is only starting

2 Comments – Post Your Own

#1) On November 19, 2008 at 3:39 PM, Terok1313 (30.79) wrote:

Congrats at having the fortitude to stick it out.  I capitulated at some point and closed it out for what will invariably remain my all-time biggest loss.  Ahh well, at least it was only on CAPS...

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#2) On November 19, 2008 at 5:29 PM, DistressedCaps (35.21) wrote:

Congratulations! I hope I'd be able to match your courage if I were 1000 down -- but I really hope I'll never have to find out! Savor the fruits of your persistence. Also, thanks for welcoming me to CAPS at my blog.

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