T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: keith massey who wrote (3254)	12/18/1999 8:37:00 PM
From: Far Side	Read Replies (2) of 5053

To Keith and gang (including Kevin), Well it looks to me like some major investment firms suddenly have taken a keen interest in Jordex. Good news for the longs and that includes Kevin Hamelin. I?d just to comment on Kevin?s trading strategy, I realize that KH dumped his JDX shares about 4 weeks ao after the stock went to 1.55 and then eased back to 1.45. Kevin chose, at that time, to exit from JDX as an interim trading strategy. In the end it turned out to be a shrewd move by Kevin but a number of JDX longs see guys like Kevin as fairweather friends. I didn?t see it that way at all. Kevin is simply an aggressive position trader and trading is his livelihood. Kevin exited quietly but I knew he would be back into JDX because he believes there is nothing wrong with the company nor the story. He just figured the market had fully priced the impact of the last two news releases into the 1.45 trading level. Well we soon found out he made a good decision as the stock nosed dived to 1.05. Just 10 days ago old Kevin chose to return to Jordex which was another good move IMO at the time and yesterday?s action just proved it correct. So what?s my point? My point is Kevin left JDX without any gloating or bashing of the people who made the decision to hold on to their Jordex position. Kevin?s quiet exit showed respect, unlike Mr. Fuddle?s immature exit strategy. I would say KH will stick close to JDX in the near future but trade it based on chart trends and developments. We ought to get used to it because I doubt Kevin is alone in choosing this trading strategy. Am I suggesting we all should trade JDX relentlessly during the next 6 months ? Of course not. That?s everyone?s personal decision. But I listened with great interest recently to everyone?s personal antidotes on ?The one that got away? (stocks and not fish) I personally liked hearing these stories because I realize that my stupid selling moves which I pulled in the past are no different than some of the bloopers performed by other members of this group. Finding good quality companies which have a huge possibilities like Jordex and knowing ?when? to buy them is the easy part of investing. KNOWING WHEN TO SELL IS THE HARDEST PART. I see many of us including Keith choose technical analysis to help define trends and appropriate exit points. I myself find dealing with my emotions when trying to determine if this is the right time to sell a stock the biggest challenge. BTW I?m not thinking of selling my Jordex under 10.00. My comments are derived from my past experience at selling good stocks (winners) at the wrong time. Last year I sold my JDS Fitel at $55.00 (stupid fool). Often, your selling urge is caused or triggered by your emotions (fear of not taking profits). Sometimes it is a good move (like Kevin?s) or it can turn out like many of the selling horror stories which we have all shared. The toughest part about small cap investing is knowing when to sell. I have yet to meet someone who is good at it or find a book which offers some good suggestions. Any comments ? P.S. Thanks Keith for not getting down to fuddle?s level during the tough times.

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