MCZ – Buy and Accumulate at Current Price

By: ispeculatornew
Date posted: 12.17.2006 (12:00 am) | Write a Comment  (0 Comments)

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MCZ – Mad Catz Interactive (American Stock Exchange) (Closing Price on Friday – 12/15/06 $0.61)

 

When you buy stocks you shouldn’t buy all at once and hope the stock doesn’t decline. You should spread out your buys and if the stock does decline your average purchase price will go down. No one is able to buy at the absolute bottom and sell at the absolute top. Furthermore, no one can consistently time short term ups and downs. If you try this you will start to chase gains and you will lose your money very quickly.
 
MCZ recently jumped from about $0.50 to $0.70 in a couple of weeks, which is a very good gain in a short amount of time (I personally bought in at $0.53). I figured MCZ would take a breather and go back down a little. However, I didn’t sell because like I said earlier guessing at short term price movements is a good way to lose a lot of money quick.
 
I believe MCZ is still a very good speculative buy and I would accumulate at these prices. The reason I am reaffirming my buy is that when I calculate my gain I am going to use the average of  $0.61 (today’s buy recommendation) and the first price I recommended it at ($0.65).
 
Disclosure: I currently own shares of MCZ.

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