John,
Tax consequences have kept me in TTRIF far longer than I should have stayed--should have sold out last Nov @ around $2--as it turned out any taxes due would have been less than the paper loss from $2 to $0.75. Experts say don't let tax considerations overrule trading strategy--and I shouldn't have let that happen. Now, I expect the Reg D selling to soon stop--and IF that $40MM financing is finalized favorably, a spike rally could come in a week or two. Selling off all or as much as possible would then free me up to trade TTRIF again.
Mgmt. says Sep quarter could be in the black--but they have said this quarter by quarter for a long time. Even if they do turn a profit, it would be October at the earliest before it's known, and I think profitability is the only thing that would cause a sustained rise in stock price. Promises dont cut it, but of course a signed agreement with a MAJOR company is a wild card that could spark a sustained move.
So, won't be quitting TTRIF, just begin trading again and get out of this long term holding mode for now. Someday, TTRIF may be long term hold, but I dont think that time is now. As for specifics, have GTC orders to buy @ 21/32 as I think a 5/8 low is possible, planning to sell around 1 3/8. We shall see.
Regards,
Gary |
