Hi Dave:
You MAY be right, and if you are, and there is going to be a general market decline, INTL won't be alone, which does not mean it is not the correct thing to take a loss. I am down 9% REAL fast and you know how I feel about that. My long suit is research, not timing, as I have freely admitted. And clearly my timing on buying my position sucks.
Be that as it may, of course I agree with you that this is a high flyer, and I certainly don't like the backup in price. I believe the overall market is going to be very very crumby for the next week or so, and then turn big time. Clearly, this is why people go to the dog track and there are lots of choices on which to place your money. Gee, did I just call INTL a dog? NO.
I have heard a rumor that some very big fish is looking at this little fish and the little fish has said No Thanks. But it is just a rumor and I do not want to bring diginty to it by getting more specific - because #1. I know NOTHING. #2. I believe this type of BS rumor is apart of the daily BS talk about ANY of the high flyers. So, I give it .01% credibility and that ain't enough to get me to buy one stub more even at these prices. I don't believe in averaging down.
Besides, I am long, do have a full position and will monitor this as best I know how, and frankly, I truly welcome your insights. I hope you will not be in a position to say I TOLD YOU SO at 15. We will both stay tuned. Now I have to think about the idea of do I want to take a quick loss on something I think I have done good research on. I gotta think about this. Momentum stocks are not my usual cup of tea. I am really much more of a fundamental's investor.
Dave, what causes you to say the stock will be 15 by december? Why NOT 10 or 7? OR....... 35? Does your opinion reflect your outlook for the market as a whole, or just INTL and why? Can you explain the basis for your original statement? FWIW. And thanks, I mean it, your thoughts are most welcome. Please keep commenting. Pete. |
