Every Situation is Different.
posted on
Apr 01, 2011 10:26AM
I mentioned that I have been in this issue for a "long" time, like Caribou days (if any current holders remember that)
I also mentioned that I took some off the table - that was when it was trading around 3.00. I did however retain some as well given that I didn't have a crystal ball and wanted to have a foot in the water in case things continued up.
I definately admit to the frailty of "holding on too long" in some situations but have found (for me as an individual) that stop losses just dont work. Have tried that with some issues and found myself stopped out on a sudden dip and then missing out when things continue upward. As a retired person I can monitor things closely and then get out whenever I want.
Perhaps the term "averaging down" has developed such a negative connotation that people just fail to see the bigger picture. Maybe a better description would be "added more at a lower price" in this case due to new information such as the Magino project etc.
I believe the thrust of my point of view is that the rules for investing in "big board" mega stocks just don't always work for "Venture Issues". I believe that one of our participants pointed out that large caps are earnings driven and that small cap venture companies are news driven. I think that person "hit the nail on the head".
Having said that lets hope we get a little more "news driven" in the days immediately ahead.
(Just a note - I formulate this material in paragraph form but it comes out in one mass. Likely the age of my computer is a factor so my apologies for the format)
Onward and Upward