Alejandro ~ Was interested in
buying some FTEL at 2.50 but stock has since gone down to 2 1/4 or so. I am still
interested in buying, but what is the likelihood of this going down any further.
I believe that Raleigh gave a good description of where the company and stock are right now. I also have alot of confidence in the company. It is the only company that I have ever introduced to my family. Most of them got in at $5+. Myself, I bought at 2 3/16 all the way up to $5+ and back down to $3.
It hasn't been easy sitting with so much invested in this stock while the markets go up and up. So far, I haven't sold a share of what I own. I broke my own investing rules on this stock and I can't say that I am happy about it. One rule that I broke was never, never take more than an 8% loss on any stock. Obviously, If I had adhered to my rule I would of sold at a much higher price than we're at now and could buy back in for many more shares. Of course hindsight is 20/20.
A few weeks ago when the stock appeared to be heading below $2 a share, I raised cash so that I would be in a position to jump in at sub $2 prices. Well, as you know the stock didn't break $2 so I was left holding cash. I decided to take the cash and invest in other stocks short term but to make sure I could sell them fast enough on the occasion that FTEL does drop below $2. Since then I bought MANU at 34.50 and sold 2 weeks later at 45.75 for a 32% gain in 2 weeks. I then took the proceeds and bought PZZA at 35 and its trading at 36.50. I keep my 8% stop in place so my downside is limited. If FTEL does drop below $2 (and I believe that there is a fairly good chance that it could), I will sell whatever stock this money is in at the time and jump on FTEL with both feet. If it doesn't drop below $2, I'll wait until it crosses the 50-day moving average on the waaay up and then start buying again. This has worked well for me in the past.
I guess it doesn't really matter if you have a long term goal, because I think the company will pay off. I personally don't expect to double my money 'til the end of this year or maybe next spring. The difficult part as you are well aware of, is picking the lows to buy off of. I'm not too good at that (obviously), so I'm playing it both ways, on the upside and on the downside. Meanwhile, I'm increasing the amount of monies that can be plowed into FTEL once I do make my move. Best of Luck to ya. ~ Jack |
