Posted On: 02/18/2016 5:28:39 PM
Post# of 96881
Re: bigdreamer12 #52759
I am down like many longs here over 90% already. I must sell $3000 from my IRA by April 15 because I'm 71. My IRA consists of 2 million shares of NTEK (valued now at $5000) that I purchased for $89K. There are no other stocks in my IRA. Originally I bought in at .011 and bought as high as .169. The value reached $340K before the downward decline. Problem is can't going to be add to this IRA since I'm suppose to withdraw funds due to age. My plan was to withdraw 10K shares a month when the stock was going up when I reached 70. Why did I put all funds into one stock? I fully believed in the future of TV and NTEK was going to be the next NFLX. I don't depend on this IRA since I have a decent retirement and wife still works. This was be my big home run. I knew the risks of pink stocks kind of thought this would be different. Two more months and I am a big big loser.
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