I apologize for not replying promptly, but by the time I got your message I have already used up my daily quota of 5 responses which SI imposes on "new" members. (I was not aware of this restriction).
I did not get in on WRN; I am not familiar with the stock.
I am not losing faith in SGI; in fact, I still have my originial (fairly large) position, acquired before it started going up in November.
However, I am beginning to realize that the junior markets are more vicious now than they used to be, with the result that, in too many cases, there is no correlation between the stock price and the potential of the company.
Most stocks are either too over-priced or too-underpriced for what they offer, and having a company with good potential no longer guarantees that your stock will be valued fairly.
Short-term trading by pros and promotions (or lack of) can skew a stock price (up or down) beyond recognition. I own several juniors which, due to lack of promotion, are sitting in the dumps, even though there is an excellent probability that the companies will define a substantial recource in 1997, and perhaps have a producing mine by the end of 1998. Of course, it is a great buying opportunity now, but, in the meantime, you can tell the frustration of current investors by reading their SI threads.
I will keep the faith, though. Patience is a virtue, especially with developing situations like SGI.
Mayer |
