Kevin,
I'm sure most already knew that you sold.
Was just reading some of your posts and found the following very interesting
(no pun intended)
From November 9 to November 21, the only stock you were talking about (I'm not sure if I shouldn't be using the word hype) was JDX. On Novemver 22, an investor trading through Schwab sold 118500 shares at an average price of 1.30. On November 22, you posted the following :
Message 12053044
I am now out of JDX for the time being. Here are my thoughts:
1) I wasn't too crazy about that opening....in fact it bugged me quite a bit. As they say, "don't argue with the market". Well the market wasn't exactly going too crazy about the releases.
2) Mid day, the market picked up nicely and it looked like the $1.40 level was finally broken and could now act as support. It didn't. Once JDX broke back down below $1.40, it never really went back with any strength to retest it.
3) Unless JDX now has more releases to go, I couldn't say any valid reasons to myself as to what would sustain the price at this level at this time. (Lots of times I do try and make a few good good ones up to try and convince myself though!") "Mystery and/or anticipation" has the capacity to fuel buying. News, once released is an event "said and done", hence the oft heard phrases "sell on news", or "buy on mystery, sell on history".
4) I think Medsite is already factored into the current price of JDX, so I was really looking for the news releases to give tangible evidence of further profit. Although the news of riding the coat tails of some of the big v.c's is nice, it may be some time before this translates into actual deals with actual dollars attached. This may be satisfactory for some with a long range perspective. For myself, I'm just not built to be that patient a person!
So right or wrong, this was my personal best decision at this moment. Should something come along that causes me to reconsider these thoughts mentioned above, I'll certainly come back in, and at a higher price if warranted. I may also come back in if the price moves down from here to more attractive levels given my own interpretation of the news and the market's somewhat bland response today.
Best wishes everyone. My one wish from here is that I'm right out to lunch on my reasons to sell and that those who continue to hold do very very well as the price hopefully climbs further still!
Low and behold the investor from Schwab started accumulating some shares on December 9 and did so until December 17.
12/09/99 30000 1.20 5000 1.05 25000 -93700 -30718 123642
12/10/99 20000 1.18 0 0.00 20000 -73700 -23664 99978
12/15/99 10000 1.23 0 0.00 10000 -63700 -12341 87637
12/16/99 2000 1.21 0 0.00 2000 -61700 -2420 85217
12/17/99 45000 1.50 0 0.00 45000 -16700 -67336 17881
On December 15, after having bought back 50,000 or so shares, the investor decided to start posting on the JDX thread
Message 12290857
Very nice trading on JDX yesterday. I imagine JDX will be leaving these current $$$ levels behind now.
Once the accumulation was finalized,
Message 12317880
Message 12321248
Message 12321285
Message 12330165
Message 12330778
Needless to say, most if not all of these posts were written for one reason and one reason only!
Surprise, surprise, the schwab investor once again dumps right into momentum triggering a bunch of stops.
12/20/99 0 0.00 105000 1.59 -105000 -121700 167202 185083
I remember you telling me not to fall in love with a stock Kevin, something you seemed to have failed to do with MRY. Could it be that you are so desperate to recup some of your losses that you are willing to sacrifice your credibility?
If you view my profile, you will notice the following quote my friend:
Character is what you stand for and Reputation is what you fall for
I see you are still falling.... Pretty sad!
AK |
