Need advice on 2 US stocks :(

[Jinnous]

Hi... kinda dumb but I need advise on 2 US stocks I bought in 2010. I dumped bout 10k in total on these 2 stocks, Citigroup (at that time the price was ~USD4.95 I think) and NDZ (~USD9.50). Citigroup shares took a plunge and nvr really recovered... now my shares were converted (I forgot what's that term), so technically it's now USD41.15 for lesser number of shares. Cuz I held it for so long, I forgot how many shares I actually bought. I hope I'm not confusing.

NDZ I should have sold when it hit USD12+ but someone advised me against selling, now it's USD6.99. I checked the company info, seemed it's not doing well.

I'm really clueless now if I should continue to hold on or cut losses. Will these 2 stocks ever climb higher? I used POEMS to buy these 2 stocks.

Can anyone advise? Thanks!

 

[peterchan75]

It's downtrend market.
Both money centre bank (C) and medical equipment (NDZ) groups are down.
Stock Quote C
Stock Quote NDZ

 

[kebinu]

It's pointless to say "I should have". If I know, I would have sell my car, my wife and everything to short at $12 back then.

Do you have a plan on why you buy these 2 stocks in the first place?

Let's assume you hold, what is your plan? If you cut, what are you going to do with the money?

Look at the big picture.

Btw, what happen last september? If it's stock split, dividend etc, your loss is not that big.

 

[Shiny Things]

Just cut your losses on both of them.

Nordion's stock plunged after they lost a big lawsuit against Atomic Energy of Canada (one of their radioisotope suppliers) and suspended their dividend. Anyhow, if you don't know enough about the business to know why they took that massive hit last year, you probably shouldn't be investing in them.

 

[Jinnous]

I dun need the money now.. so not sure if I shd just hold on to them now, with the tiny bit of hope that it will go up. I read about the lawsuit but by then it was too late to dump the stocks. For C, I hv kinda of given up hope that it will go creep up to $50 so I just left it there, hoping for miracle. But am I doing the right thing? My only rational is these 2 are big companies and maybe one day it will go up?! But then the Lehman Bros was also a big bank.. zzzzz

 

[supratentorium]

You had been given some very sound advice, "get out". Pay the
"tuition fees". But it seems like you are looking for someone to give you more hopium to hold on to them.

Citi's weekly chart had been in a range from $21-51 since 2009. Currently it in no man's land (near the middle) and the daily is trying to form a top.
NDZ weekly chart i can see buyers at 5.50.

But even knowing this, do you even know when to get out of your position? It's useless.

 

[Arsene_Wenger]

Hi... kinda dumb but I need advise on 2 US stocks I bought in 2010. I dumped bout 10k in total on these 2 stocks, Citigroup (at that time the price was ~USD4.95 I think) and NDZ (~USD9.50). Citigroup shares took a plunge and nvr really recovered... now my shares were converted (I forgot what's that term), so technically it's now USD41.15 for lesser number of shares. Cuz I held it for so long, I forgot how many shares I actually bought. I hope I'm not confusing.

NDZ I should have sold when it hit USD12+ but someone advised me against selling, now it's USD6.99. I checked the company info, seemed it's not doing well.

I'm really clueless now if I should continue to hold on or cut losses. Will these 2 stocks ever climb higher? I used POEMS to buy these 2 stocks.

Can anyone advise? Thanks!

I will advise to hold fr c since it will go up one day n u r not in need of cash anyway.

Jus treat these 10k as 'loss' n it is nt alot for someone who play share.

Nt sure abt e other share.

Only prob is i see is e custodian fee tat u need to pay?

 

[peterchan75]

I dun need the money now.. so not sure if I shd just hold on to them now, with the tiny bit of hope that it will go up. I read about the lawsuit but by then it was too late to dump the stocks. For C, I hv kinda of given up hope that it will go creep up to $50 so I just left it there, hoping for miracle. But am I doing the right thing? My only rational is these 2 are big companies and maybe one day it will go up?! But then the Lehman Bros was also a big bank.. zzzzz

The "I don't need the money now" statement is deadly. Your decision on these 2 stocks must not depend on it. Your decision should be based on the condition of C and NDZ be it TA or fundamental. Just to give you a broad view by sector, for C, you can look at the trend XLF.

 

[Dividends Warrior]

Just cut loss. No point holding onto them.

But the important thing is, write down and I really mean write it down on a piece of paper, your mistakes made. Also write down what you will do next time. Maybe you did not do enough research? Maybe you are just speculating? Maybe you bought based on gut feeling/rumours? Things like that.

Then, paste this paper big big on your desk to keep yourself constantly reminded.

After I made a small loss on FSL back in 2011, I forced myself to do the above. I never make the same mistakes again.

 

[Jinnous]

Yes.. I understand when you said the statement is deadly. I'm not a stock/ share savvy person.. I'm still learning so kinda panic when the 2 shares I thot will do well did not happen. For C I bot based on gut. I had some info for N. It was doing well until that lawsuit. I'm thinking of cutting my losses but a friend advised me against it instead asked me to buy more N shares since it's now lower.. I'm hesistant to do this though. Thanks for hearing me out guys!

 

[peterchan75]

In stock, just expect the unexpected things to happen and know what to do when the unexpected thing happen. The "what to do list" should be...
1. Which stock to buy ? (Tips ... the market already know when they reaches us. Not saying you should not listen.)
2. When to buy ?
3. When to sell ? (Stops - time, money or technical)
Somehow you need to have some definite idea before you plunge and write down your plan. Comment on your plan if you have update until your exit your trade. You have to conquer these challenges yourself.

 

[Shiny Things]

I had some info for N.

...well then, your info was wrong, wasn't it?

It was doing well until that lawsuit. I'm thinking of cutting my losses but a friend advised me against it instead asked me to buy more N shares since it's now lower.. I'm hesistant to do this though. Thanks for hearing me out guys!

Is this the same friend who gave you the first hot tip on it?

Either way, you should sell it, since your initial hot tip was wrong, and you don't have any special information on it. Call it an educational expense.

 

[chopra]

I bought C at 2.XX and 3.XX (before reverse split) in 2009. Held on for years.

The market is topping in my opinion. As the saying goes, buy low sell high. But since your Citigroup is bleeding, maybe sit through one or two more bull-bear cycles and wait till C to raise back her dividend level.

 

[chopra]

Also, there has been alot of impetus for big banks to split into smaller firms. There's alot of upside if this is done....you can google for more info.

 

[chopra]

bank stress test results out tmr. looking gd.

 

[chopra]

repurchase lai liao

 

[chopra]

ts sold already?

 

[Jinnous]

Haven still holding on. I'm looking to sell though. The price list now is 53.29. Good to sell?

 

[chopra]

Haven still holding on. I'm looking to sell though. The price list now is 53.29. Good to sell?

dude, it's 52-week high.
I'm setting my TP near $55 mark.