Monday, April 7, 2008

Why hold DRIV?

You can see that I am down 30% in DRIV and might be wondering why I'm still holding it. I think DRIV is a good solid company and I've made a lot of money on it in the past. My biggest ride was in 2004 when it went from the teens to the 30s and I was holding it as about 30% of my portfolio. I sold off after that and bought back in after it seemed to stabalize around 30 and it jumped again to over 50 and I sold it off. I kept watching it as it held just a little over 60 for over a year. When it dropped below 60 I purchased a bunch thinking it was due for another jump and it fell. I still think it is a great stock and solid company so I continue to hold it. What I should do is to buy some more at the lower price to reduce my cost average, but I'm in deep enough at this point and I'm just seeing it as a current value, not a current loss. I'm holding it for the long term.

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