To anyone considering selling RNTK this week or next if no deal is announced, please listen to my story !!!!!
Last Spring, I bought HDIE when it was bouncing between 3 1/2 and 4. I held the stock through its little ups and downs until Sept 3rd, when it finally broke below $3. No matter what you hear on the thread, stock price tells you everything and a break below $3 told me not to expect compelling news which would enable HDIE to continue its turnaround with increased earnings prospects. So I sold at $3.
On Thursday, Sept 10, near the close, I saw big blocks coming and I rebought my shares and more (at 3 1/16). By 10:30 on Friday, HDIE was back at 3 1/2 (I bought more !). Yesterday it closed at 4 and after the close, HDIE and HBOC announced their alliance. Thanks to David F. for keeping the faith and showing me the error in my ways !
I could tell you a similar story with MTON when it traded below 5, except with MTON, I did not sell (but didn't feel real good for a week or 2 either). Since they hit ROCK BOTTOM, they have announced a string of new contracts. Go figure.
My message is, unless you think RNTK is lying about their near term prospects to close their deal with Texaco, you can almost be certain that the deal will be announced within days of you throwing in the towel.
Regards,
Chris |
