DSTI is killing me.

[jasno999]

What a bad move I made purchasign this stock. I heard soem good hype on this board and it looked like it was headed i nthe right direction but I have lost liek 300 bucks on it now and the thing is still falling.

I thought some good news (any news) would help but even the news that said:

DayStar Tech Names Raja Venkatesh Chief Fincl Officer >DSTI
8:40 AM ET - Dow Jones News
DOW JONES NEWSWIRES
DayStar Technologies Inc.(DSTI) Friday named Raja Venkatesh chief financial officer.
Venkatesh most recently served as CFO of Myricom Inc., a private semiconductor firm.
Shares of DayStar, a Halfmoon, N.Y., maker of photovoltaic products, closed Thursday at $4.02, down 4.3%.
-Michael Baron; 415-439-6400; AskNewswires@dowjones.com > Dow Jones Newswires
05-11-07 0840ET
Copyright (c) 2007 Dow Jones & Company, Inc.


not even that seemed to help the stock.


I am goign to give this stock until the middle of next week to see a move in the positive direction. I heard there is a conference on solar power occurign in NY state on Monday so I am hopign somehting comes out of it.

Any thoughts?

[Lou]

thats a risky stock my friend.

[Albert0373]

Lost $1500 on it once; got in today at $3.84 for a quick daytrade.

[jasno999]

Should I take the loss and jsut sell it off?

[BuyOnDips]

You gamble on every stock you buy, but I agree with Lou that that pick was a risky longshot stock. Personally, I like to buy stocks with lots of cash, little or no debt that are cash flow positive and are growing revenue and earnings year to year. And even then, you'd like to buy stocks with those criteria when they dip.

I think if you buy a stock like DSTI, a tight stop loss order should always be used. And use your MAD money.

[TonyM]

Should I take the loss and jsut sell it off?
You should develop your own strategy and stock screens, if you continue to trade by seeking advice online, you will blow your account out imo.

[jasno999]

You should develop your own strategy and stock screens, if you continue to trade by seeking advice online, you will blow your account out imo.

Yes but I am just learning and don't know what to do or how to do it. How else will I learn if not from people willign to teach me. I was hoping from people on this board. I know I want some money in long term stocks or maybe mutual funds but I would also liek to keep a good amount around for short term stuff where I can buy and sell on a weekly basis to make little bits of cash here and there. That seems fun to me. I jsut feel like I have to do that with stocks that are more affordable to start with..... Cause I don't have but 5,000 right now to do thsi with.


Now the real question should I drop my 400 shares of this stock now and eat the loss which is close to 350 bucks right now???

Or shoudl I give it till mid next week after the conference on solar power is held?

[AJLightning]

Hey Jasno999....I'm in the same boat you are. I'm new to the game and any knowledge helps. Bought BRLC Wednesday, it's CRAP today. Didn't set my stop loss at 8%, now I'm down like 16-17%. I guess I'll hold till it goes back up...maybe by next quarters earnings report. A good rule of thumb...if your stock goes down by 8%....GET OUT QUICKLY to minimize your loses. Oh, and one more thing...CRAMER is not right all the time. He recommended BRLC on Mondays show to buy by Thursday...well it didn't work out. And on last nights show he had BRLC as Bearish...So bite the bullet and sell or hold if you think it will go back up

[TonyM]

You're missing the point...you need to teach yourself which entaills a lot of reading and then more reading and some more reading. Why would you put your money into a stock based on what somebody on the internet whom you never met suggested?

You could learn a lot from this forum...just go back and read past posts, read the pumps, read the reactions, read the results, read the discussions.

I don't know Chinaman personally, but I'm pretty sure his trading style and risk management is going to differ quite a bit from yours, so blindly following his pick without doing your own research is a recipe for disaster.

You're asking for help, I'm offering some insight. Try trading in the monthly simulator for awhile first, don't be in a hurry to lay your money down, the market isn't going anywhere.

I can't comment on what you should do with this holding, other than you shouldn't be in it in the first place. New trader's and low volume spec plays don't mix well.

[1birdman1]

What I have done is sold it now (at a loss) and then purchased it again when it gets lower... almost like shorting it in a way but what you end up with is the same number of shares you have today but in 3 days when it gets lower it cost you less and in turn lowering risk as you hold for a future sell when it does go up

[Albert0373]

Hey Jasno999....I'm in the same boat you are. I'm new to the game and any knowledge helps. Bought BRLC Wednesday, it's CRAP today. Didn't set my stop loss at 8%, now I'm down like 16-17%. I guess

You can't really set that kind of stop loss for an overnighter earnings play. As soon as earnings were released; it fell like a rock.
All you have to do to is to get out as early as you can on that kind of play or hold if you believe it will rebound.

As for holding for a few days; yes a stop loss is highly recommended if you're not monitoring your stocks actively. Stop losses levels differ from trader to trader, some take it off the table at 5%, some 10%, some even 30%; depends on your level of risk.

[jasno999]

Like I said I am goign to try to hold off until the end of the day today and maybe even see what happesn tomorrow. There was supposed ot be a conference on solar power today in NY state. I am nto sure what is goign on with it but I was hoping some good news woudl come out of it and the stock would see a bit of an increase. Anyhting woudl be good at this point.

[jasno999]

I sold it. I had to. I just could nto take it anymore. Better to be rid of it and not lose anymore than to keep it and pray for it to recover. I will watch and if I see signs it is goign to head in the positive direction I may buy back in. For now it is better to put my money elsewhere- Like in limbo for now until I find somehting I really beleive in.