Greetings, fellow NRT investors. It has been a while since I last posted but I have been a holder of NRT stock since $1.30 However, as I stated in my previous posts, I tend to rely heavily on the chart of any stock in making my investment decisions.
This helps me be more unemotional in my investing as we are all in this for one reason - to make money. I am disappointed that NRT performed like a penny mine stock. It fell dramatically on what appeared to be good news. No sence trying to reason it out - it happens most of the time with penny stocks. However, my 'don't fall in love with a stock' approach did pay off as I sold 70% of my position on the rise up between $2.30 and $2.66. I sold off the last 30% on the way down because 'the trend is your friend.' You cannot fight the trend because unless anyone out there has 100,000 shares... we are small players.
I did want to say that the latest issue of Investors Digest (May 22) has a feature article on NRT on page 299. Golden Capital has Nortran listed as a BUY and speculates about the recent financings, etc... It goes on to say that "To be listed on the TSE, biotechs must have, among other things, sufficient working capital to continue operations for at least three years, and a minimum of $10 million cash in treasury. Upon closing, Nortran will have net tangible assets of about $18 million, which satisfies both requirements".
So, it would appear that the runup was required to complete the financing at a lower price for the eventual TSE listing. Selling into the news is what the pros do.
I expect NRT to recover and will be back into it once the chart indicates a turnaround. For now, I am out of it completely but will watch it. I expect it to take a while to reach $3.00 again - perhaps further drug developments. Could be months. In the meantime, there are many other buses leaving the station. MRY and Visionwall come to mind.
Entertaining thread.... never saw a married couple go at it before on SI.
mike |
