Mr. Jouver, yours was an excellent post.
Right back at you, Buckeye. You make an (unfortunately) clear case. This almost feels like a real thread now. People are writing lucid posts rather than rants. ;-)
You've definitely got a point. And I'm taking a long, hard look at my investment in GONT. What's always kept me in any particular penny stock is the chance for some sort of enthusiasm. It doesn't have to be realistic, just a chance. If there is some unknown, then anticipation of that unknown may cause a spike. Maybe that's why you suggest being a trader. Unfortunately, I've never figured out the rhyme or reason for these spikes in many pennies that I've invested in. The really big ones just seem to happen, hard and fast. And you're either on-board, or you're not. I've never been good at chasing them. My main pessimism with GONT is that they basically pulled all of their rabbits out of the hat long ago, leaving (gulp!) only the prospect of them actually producing...results! Have they done this? Yes and no. Yes, they actually seem to be running some sort of business, but no, they're not doing it particularly well (as you pointed out so well in your post). I guess it just remains to be seen whether or not they can survive long enough to produce hope among investors and cause another spike. In all honesty, my remaining shares are held at less than zero cost to me, so I'm willing to gamble (I know I lose current value, but I've had too many opportunities slip through my fingers in the past).
Let me share my pain and chagrin. Maybe I'll make some other poor souls feel better. ;-) I just looked back at some holdings I sold off in 1999. NPEC was a penny that I held for years. Traded it a little, but nothing spectacular. Basically considered it a lottery ticket. Well, I finally got disgusted and sold all 100k shares for about .05 in March for a small loss. It hit .28 a few months later. Even better, I rolled the proceeds into XNET at around $4. Held it for eight months and sold it for $3.37. A few weeks later, it hit $20. Lightning finally stuck me when I loaded up on JNNE at around .10, just prior to the run to .90. Why I decided to load up then, and why it ran, are still a mystery, even to me.
So, bottom line, pennies are all about luck and emotion, IMHO. That's why they're not considered "real stocks"---emotion, especially, is the bane of all good investors. But it rules the day down here. And my gut says to hold. And I have been known to be wrong before! ;-)
Good luck to you as well! I appreciate all meaningful, informative posts, pro or con.
Jape
PS---Do not weep for me. I rolled my JNNE sales into EMC, CSCO, DELL, MSFT, BBY, etc. so I finally learned my lesson! |
