Well, I sold half my shares immediately after it bounced off 4.5 and ran to over 6 the first time. I sold the rest when it broke 8. So, I'm out for now. I'm not concerned that it will sink terribly - but what will drive it up? I'm sure a strong market will not hurt, but this is also a nervous market, where people don't anticipate that gains can be sustained. Actually, if I still DID hold GBT, I'd sell here and forego any gains in the near future from a bounce - simply to free capital so that I can put it to work in something that has a better chance of appreciating. It's weakness today, in face of a blazingly hot market, after days of tremendous weakness, leads me to believe that probably quite a few people reason in a similar way. Bottom line, regardless of the limited downside (and I'm not even convinced of that), the major issue is: what will the stock do for me in the near future, and why should I tie up my capital here? What does GBT offer that is BETTER than any of a thousand stocks out there which are tremendous values too? GBT is competing with the whole market for investor's capital, and I'm not sure they are attractive enough.
I guess the one bright light is Bestel. But that's been so much of a "promises, promises" case, that patience has run out for a lot of people.
Having said that, again - if through some freakish situation GBT declined to $2 or so, as long as there was nothing fundamental driving the decline, I'd consider getting back into it. Otherwise, capital can be deployed better elsewhere, IMHO.
Morgan |
