I like to first thank Todd for the correction. You are corrected, it should be start-up instead of upstart.
Rudy, I also enjoy your rebuttal especially when it comes in a cordial manner. Below are my responses:
There is truth to what you say about up-start companies. However it really does not change the rule "cut your loss quick". Look I made a round trip with this pup 4-8-4. Do you think buy cutting it at 4, I made a mistake?
No, I never said anyone is making a mistake in cutting his or her loss. All I said is that if you are a daytrader or a short-term trader, you MUST follow THE RULE and cut your loss. Because of the hindsight now, you have the luxury of calling your decision a wise one.
Today one time the bid was as low as 63/64!! That is 75% down from where I sold and 88% down from my top with PNLK!!!
If I have the prescience to know that PNLK price will drop this low, I will DEFINITELY wait for today before I go LONG!
Considering a stock can go down at the most 100% these numbers prove that indeed I made the right decision by cutting PNLK.
Yes, as a short term trader, you made a right decision and it turned out to be right for you. However, as a long-term trader, I do not wish to engage in daily prediction of where the price of PNLK will be in the next hour or days will be. I just don't have the stamina or fortitude to time my entry and exit point in stock trading. Have you ever thought of the idea that you MIGHT be wrong? What IF the price jumped from 4 back to 8 after you got out? With hindsight, we all know it didn't happen; but WHAT IF??? Will you get back in at 5? Or 6?
Does it mean that I do not support the concept? No! I usually follow technicals rather than fundamentals. Tecnicals for PNLK does not look good.
I also used technical analysis in my commodity trading. Half of the times, my technical analyses were wrong! It is how you manage your loss that save you from the incorrect technical analysis. Again, I am talking about short-term trading here. There were many occasions that after I cut my loss that I witnessed the price took off without me in it. It is all part of short-term trading risk that I am willing to take in commodity trading.
Above all that, some shady characters on this thread convinced me more that I did the right thing.
I failed to see the connection between your perception of 'shady characters' on this thread and ProNetLink's potential.
Now, you say one can miss the blast off. From here to 4 it hast to blast off 300%. Do you think I cannot jump on the train from here to 4 if I want to? There is no chance! If news come, technicals turn, buy volume picks up, if I get convinced that the phase-2 is a valuable product which can generate revenues, trust me I can still buy lot cheaper than 4.
If the market allows you to. I do not know how the market will react to the Phase II completion. PERHAPS the Phase II looks so GOOD that everyone eliminates their doubt completely and starts a buying frenzy. It is all a BIG IF. Meaning, you may or may not have a chance to buy a whole lot cheaper than 4 by waiting for news. Remember, it is from hindsight that you are corrected to get out at 4.
Now am I sitting better than the guy who hold it thru all this down to 1? I sure am.
Again, you are sitting better than a lot of us because you took the risk of getting out at 4 and was corrected in your call.
I am also sitting worse than the smarter guy who sold it at or around 8.
This falls into the category of hindsight.
I'll never forget that mistake I made. Partly because of all this hot air and hype on this thread. I admit.
This can cut both ways. IF you got out at 8, and the price went to $20 because of "all this hot air and hype on this thread", you'll never forget this mistake also. The market is very emotional; there is no end to where the price will go if the emotion is strong.
And I believe lots of others sit and still sitting tight because of the hype. Only thing saved me not incuring big losses is that I stuck with my rule.
There is no doubt that you are a disciplined short-term trader and I am happy for you. However, that doesn't mean a lot of others are still sitting tight because of the hype. At least, I am sitting tight because I care not to concern myself with the day-to-day price action. My experience tells me that I will fair better just holding it long-term. I will incur my big losses if ProNetLink doesn't deliver and I finally cashed out. At the meantime, as in any investor in 'private placement', we won't know until the subscription result is announced.
Anyway, enough said. I sincerely hope the company delivers as promised. As you see I still follow it. That shows that I have some hope.
I am glad for you.
I can catch the train at a lot lower price than you paid for if it ever moves.
I am happy for you and I also hope that you are consistently corrected in your future trading.
In conclusion, I do not believe that the investors in 'private placement' are concerning themselves with day to day price movement. It is because they simply don't have any price to look at day to day. I am simply proposing a way for long-term investors to look at that may help them weather the day to day price change. Think like a 'private placement' investor. And for all those short-term and daytraders, you will learn a lot by listening to Rudy. |
