Couldn’t help myself, got some more. Sorry Polly!
It’s really gambling...
Now holding and hoping for a positive outcome tomorrow
Your money Larry...your risk!!!
I know you just trying to bring your average down and then bail overall at breakeven or small profit but this is the nature of human beings..
But before you added now ,you should have asked yourself first , why i invested here in the first place?
1. was it because of some Gurus in a chat room advising this as a one in a million quick get rich scheme
2. Did you feel this share had value going forward
3. Market overreacted and hit this share down badly too quickly
4. etc etc
If the reason you first invested like the above examples still exist then fine , you feel adding will give you a better average going forward as the reason for your investment is still sound.
If not for the above or your reason/circumstances of the company had changed since your initial investment then in my opinion and in all likelihood you just throwing good money after bad money! This basic rule means an investor should not take irrecoverable or “sunk” costs into account when making decisions about adding into an existing investment. In other words adding to a losing share just to reduce your average knowing full well this share is not what you expected it to be when you invested for in the first place is committing investing suicide.