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"Rumors" post was not a hit and run. Jim Dent asked if I was market timing because I said I'd get back in at the right price, others speculated that I was spreading rumors to force that price. No, I'm not a market timer. I heard the rumors from reliable sources and got out based on the spike to 10.5 and the fact that I'd more than doubled my money in several years.and the rumors made me nervous.
I held Turbodyne through the last high - was it $10? - and on through what someone here called the "valley of death" to $2. All the way to 2 I kept thinking "Bulls make money and bears make money but hogs don't make money", but hung in anyway. I would get back in at the right price because I know a lot about this company from following it for so long: no new research required. And, before this episode I did have sources of information which are probably all dried up now.
When I spoke with the company this week they confirmed that there were problems in Brazil several months ago with salt water and humidity. Which substantiates part of the rumor, that there were problems. The second part, status of testing, is still in doubt. According to the company, the problems have been resolved. But do the Brazilians think they are resolved?
The agreement in Brazil is with Astoria, a distributor, not with the cities of Sao Paolo and Curitiba, where the testing is taking place. Turbodyne was vague on the status of testing on urban buses in Brazil when I talked to them this week. So I'm still not sure what is going on. I don't trust the company to share bad news without being forced to. Why should they? That's why only now do we learn that there were problems several months ago. This was the point of my post, not knocking the stock. If you go back and read my post, you'll see I was not slamming the company indiscriminately, just questioning status in Brazil, based on what I'd heard. And still questioning - (yes I should read the posts, but as I no longer hold a position, staying up to date is not so important. Have not had time to read the posts after 5/5)
To prevent future tumult, if I have something negative to say I will only send it as private message to those who want to hear. These are not available to the general thread and will keep all the talk on the thread in a positive vein. If anyone wants to hear what I have to say, send a private message to me and if anything negative arises I'll send a private message with what I know. I hope this is suitable to the thread.
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