Hi ZZ, I appreciate the dilemma you were in with IOMG. I also pondered my decision to sell IOMG after the Cabot hot line issued a sell due to lack of momentum. Have since obviously determined that the decision was wrong! The initial drop the next day was indeed temporary with a nice rebound. Concluded that Cabot may have again jumped the gun with a sell of IOMG for the third time. Could have been a lot of reasons for it....all internal with Cabot. With the higher short position in the stock, a drop from the 50s and having just completed the PRST correction, I went against my long term objective and sold, with the hope of a buy back at lower prices. I now doubt we will see 23 again. With the IOMG procees, have since bought more PRST after covering my margin account. DRAT...missed the long term Capital Gain cutoff, (1 yr.) by only 3 weeks on IOMG.
I have also done very well using many of Cabots picks in the past...especially BEAM. With the high profile of Cabot in recent weeks, I just overestimated his influance on IOMG stock. Thought that if the Cabot Money Management Co., run by his son was selling their 700,000 + shares, it could make quite a dent in the price. Wrong! It just made a dimple.
Interesting thought regarding share size on a larger trade. I suppose many may piece meal the larger size over a period of a days trading to sell. Possibly the Firms floor trader would have the knack to not let on about a larger sale. Would not make so much of a difference with a stock that trades million like IOMG but could move a company like PRST with such a thin float. As stated in previous posts, my attention on reading the individual trade volume is with many 5,000 + sell or buy or when the average trade starts exceeding 500. This is found by dividing the number of trades found with many qoute servers, into the days volume.
The San Diego guy was mauled by a female bear, right where it hurts! Do you suppose he has lost his ***** and will never again take a chance? Probally is out of the market for good!
Take Care,
Neil
PS - Fishing was great last night and again today. Kids and I limited out on Walleye. To windy now, so will be doing some PRST research this afternoon. |
