Global Financial Meltdown Melt My MyLot Profit!!!!!!! !!!!! !!!!

@okwusman1 (2247)
Abuja, Nigeria
December 18, 2008 8:57am CST
I decided to invest the little i have made in penny stocks, i joined MyLot 2006 and the little i have earned is what I invested in Penny stocks and the price has droped by 75%, I am in a bad state now financially. Other money I made from my business I invested in stocks, and i started accumulating this since two years ago but the price of those stocks are now down by 75 percent. What do I do, should I sell because the price is still dropping?
1 person likes this
3 responses
@zandi458 (28102)
• Malaysia
18 Dec 08
The unpredictable world economy does no good for investment. It is better to put all your money under the pillow then having your money melted, sucked away by this so called investment companies. I had bad experience some years back when I invested a lot of money in commodities and not knowing the in and out the working of commodities I invested blindly with the help of a remiser friend. Barely a month all my hard earned money invested in the commodity trading just disappear and I cried until no tears left in my eyes. From then on the mention of stock exchange, commodities or anything that concern investment make me shudder.
@zandi458 (28102)
• Malaysia
19 Dec 08
so it is not too painful for you, in a way. As it is not from your savings?
@okwusman1 (2247)
• Abuja, Nigeria
22 Dec 08
It is painful because i worked for the money!
@okwusman1 (2247)
• Abuja, Nigeria
19 Dec 08
zandi, infact the meltdown has melted my myLot hard earn profit away.
1 person likes this
@hellcord (673)
• Romania
18 Dec 08
oh good to know, I'll go for something that keeps value over time a little better, like gold or silver or diamonds :D
@okwusman1 (2247)
• Abuja, Nigeria
18 Dec 08
That is why i am sharing this so that people can learn a lesson from my experience.
@momiecat (997)
• United States
18 Dec 08
The stock market is always a big gamble and not for the faint-of-heart. That is why I got out after I also lost money several years ago. They say to keep your money in it for the long haul and over the years it averages out. I think it also depends on the companies you choose to invest in. You, of course, have to choose wisely but there are never any guarantees. I am sorry things are not going well for you. It is a hard lesson to learn. If you don't have that much invested and you are young, let it stay in the market for a while. Surely after things hit rock bottom, they can only go up from there.
@okwusman1 (2247)
• Abuja, Nigeria
18 Dec 08
i am thinking of managing the little i have and leave for long term. it is disheartening. It has made my PB to rise beyond normal!