Not saying he did this, but if the parcels bought became larger and larger by an order of magnitude as the price dropped, then it would be possible. I don't do or recommend this as a rule, but did make some good gains in one oil exploration stock by this method. Original parcel was 5,200 @ 15cents each and the final purchase was 1,000,000 @ 0.4c each at which point the price bounced to put me well into profitable territory. I still hold them all at the moment. The original parcel is still in the red, but is dwarfed by the very large gains in the other parcels.
ZYB Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
Not saying he did this, but if the parcels bought became larger and larger by an order of magnitude as the price dropped, then it would be possible. I don't do or recommend this as a rule, but did make some good gains in one oil exploration stock by this method. Original parcel was 5,200 @ 15cents each and the final purchase was 1,000,000 @ 0.4c each at which point the price bounced to put me well into profitable territory. I still hold them all at the moment. The original parcel is still in the red, but is dwarfed by the very large gains in the other parcels.
