Finally, after almost one year of holding BAC, I have decided enough is enough - I have cut loss on it. Why? Because, market is so good, and yet it is moving down. What if market sentiment turns poor again soon (very likely in this volatile environment)? Of course, I could treat it as a long term investment, and even "average in", but the opportunity cost is too high. Why not use the funds available for other better performing stocks?
This is the worst trade that I have made all year long since 2010 - holding on to a loser for an extended period of time. The finance charge + the currency devaluation + the loss in share price possibly comes up to about $2,000.
Lesson: Never buy a share on a downtrend (different from buying during a correction or market panic), and never forget to cut loss even if I intend it to be a longer term investment.
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