Double To A Million - Step 19 - DTAMP Gets Kicked

How To Double Your Way To A Million In 28 StepsThe Official Blog for the "My One Million Friends" Website
DTAMP has gotten a swift kick in it's posterior this week, and it definitely hurt.

Its bottom beating takes the form of a stock trade gone terribly awry.

I decided to take one more chance with Thornburg Mortgage Inc (TMA) and that turned out to be a very bad idea. This is how the trade turned out.

DTAMP Equities Plan Report:

05/02/08 - Buy - 487 shares of TMA @ $1.16 p/s - Total $564.92
05/07/08 - Sold - 487 shares of TMA @ $0.9205 p/s - Total $448.28 Total $448.28 - ($0.02) Fees = $448.28Net (Loss) of -20.65071% in the Amount of (-$116.66)
On May 6th, Shares of Thornburg Mortgage Inc. fell...after the jumbo mortgage lender...urged its shareholders to pass a plan to increase the number of shares it can sell in an effort to remain in business.

...board of directors is asking its shareholders to approve a plan that would increase the number of shares of stock in the company to 4 billion from 500 million

Current shareholders holdings would be diluted by 90 percent under the terms of the deal.

Well needless to say the shares plummeted to a low of $0.71 a share. Fortunately they then rebounded to the mid $0.90's where I exited the trade taking a 20% loss. This is a heavy hit to DTAMP and very discouraging but it is the nature of the venture when trading risky stocks as TMA has become. As a result I will be needing to reign in the risk at this point and re-evaluate the programs direction.

Some additional funds were obtained during the ensuing days, ($3.70) in redemptions and ($0.06) in found change.

Also some good news, I did manage to find the Instruction Manual, Online, for the Radio Shack Micronta Discovery2 Metal Detector - Treasure Finder Catalog Number 63-3004

Find The Instruction Manual Here
Present Stake: $1488.10

Motto: It is only "one" found penny.
Slogan: As Simple As Finding A Penny.

Regards,

Xinfinitum


This Doubling Blog is based upon the Doubling Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to "Double Your Way to a Million" by going from one penny to one million dollars, starting from nothing. At the beginning you start by finding a penny and then double a penny until reaching $1,000,000.

How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan
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