The power of dividend payouts.
Hope all of yall are doing well in Steemit Nation. I shared these market moves with my close bros./friends tonight regarding holdings of ours. Some do or don't have these holdings but these were my thoughts below:
BABA slightly down now from MAR news - profit taking I know. Plus it was a good deal for them especially. Hell they had (as yall know) one thing going unlike FB, LNKD, (now MSFT), Amzn, etc.. - they were already making damn money (IPO at $90.00)! That was such a an easy move when I purchased twice for all accounts (Aug. 15 too). This is long term play. Not selling any.
At least not yet.
The one that killed me was (just checking it last night) was BITCF.
Remember I said after the news of being the first divy. payer, well, it had some other big news with another company.
Now this - I need to take my profits soon.
This is not like BABA. Not saying it could be a leader among peers, but at same point - can't deny it may be a pump and dump either.
The SEC killed this around .80 with some news and profit taking. And like I said in email prior, the limit order I had to buy even more for all accounts after stabilizing around. 30 for more purchases at .30 all of July before expiring never filled.
Also not saying BITCF will go back down to .30. But the volume on Friday and the fact of 10% divy cryptocurrency payout but at shares purchased at .30 and .60 for all accounts is ridiculous.
Like on BX (now a sleep me share holding) the divy. payout on my allotment of shares purchased at $4.50 is ridiculous.
Dad always preaches to me and Dr. Dow about David Dreaman. ha ha
And yall know the rules after principal plus some profit (hell $50.00 - I don't care) you always leave sleep me shares.
Thus adding fuel ($$) to existing dry powder. I'll share this with my Steemit friends -- yall need to get on there. Take care bros. LOTN
So I did sell some of BITCF during the big beat down day. I should have set orders a day prior but couldn't be by the pc. I'm a multi-business owner and parent so I actually am just checking exchanges tonight. I figured BITCF would test at least the .85 level which it did on Friday I believe. I sold all in one account and left 50% and 25% holdings in all other accounts. I made my principal plus some small profit. Also this play was better than a loss on a penny stock with less than $80.00 including fees invested in any account. Also withe divy. in September it is something to sleep on at this point. Finally, I do not recommend penny stocks. This one was rare and I assure you I spent days of research before even investing hard earned $80.00 or less in any account. Always stay cautious in your investing and have a game plan including starting and exiting a holding.