RE: TOMMEEEK-BL
posted on
Jul 25, 2006 10:36AM
One must react in real time as market forces occur, especially in a market like the one we had back in early 2000. From $1 to $24 in a matter of weeks, on surging volume, should require one to adjust ones strategy from one day to the next, or one hour to the next, without having to make a formal declaration to a chatroom board or be branded a lowlife.
It is possible to have been bullish and remain bullish while taking a profit, then adjust accordingly. At that moment the market was taking stocks to unheard of levels, EDIG included. After a 7 point gap up at the open, which took EDIG to over $24, it looked like $30, maybe $40 was in reach, as evidenced by the volume and price surge. Some were predicting $150-$250. Everyone was cheering, how could they not? Taking something off the table while cheering the reality of our good fortune proved to be a good strategy. Having sold a partial position doesn`t mean they didn`t want it to go higher for the benefit of the rest of their position, but rather it just meant at that point the realization occurred that it was prudent to take a profit after market conditions changed.
Last I checked one does not have to officially signal to the chat board when that realization occurs.
In my case, I remain a ``long`` EDIG investor, bought the way down and have repositioned to make a nice profit from these levels, and remain ``engaged`` on the future of the company, sharing my DD while recognizing that divisive efforts do nothing for the investor`s benefit.
Had EDIG continued to rise beyond $24, sellers at that point risked not participating with those shares sold at higher levels had they occurred...just ask those who sold earlier at $2, $3, $5, $10, $15 and left a lot on the table as a result...it`s all a matter of how wide the angle is and all part of investing, whether you`re selling stocks or real estate.
I will ``try`` to make this post my only comment on this subject to avoid turning this into the RB chaos that ruined that board. I only response as a result of your blanket comment and wonder from where they come.