Hi everyone,
I don't post a whole lot here, mainly because I haven't turned up anything new about the company or the stock price, nor have I made any decisions, until recently, except to hold long term.
We have looked at this company and the stock price from many, many perspectives, inside out and upside down, and of course all the perspectives overlap because nothing exists in isolation: the company history, evaluation of management, the financials, filings, investor relations, conference calls and personal calls, press relations, market relations, the joint venture, on site visits by actual investors, attendance at the annual meeting and reporting therefrom, the mining sector, the POG, global and domestic dynamics, the charts and technicals, geologists reports and inferences, every opinion and experience related here as well as in two irc chat rooms.
I bet I have missed some too.
My first point is that we have done an absolutely incredible amount of dedicated and intelligent research and continuous tracking here. Someone should hire us and pay us a lot of money for doing the kind of thing that has been accomplished here. A lot of time has been spent by so many people in their postings of all this information and opinion. Just imagine if any one of these heavy contributors were paid by the hour(even minimum wage)for what they do!
Consider too all the emotional energy that has been expended here on this thread- energy contained in the content of the hopes and dreams that many probably have attached to their investment, and the energy contained in whatever ways that anger, fear, attack, or defensiveness have motivated some of the postings.
So, while the primary investment is money, a whole lot else has been invested too.
My second point is that, given the above, where is the reward, right now? It can only be calculated in terms of the stock price, and thus far, excluding any profits from really restricted and limited trades, the stock price is not rewarding us for the totality of our investment.
But perhaps it will? Maybe, a long time from now. The question I had to put to myself is this: can I get out of this investment, put the money in a place where I can be rewarded with appropriate gains, and in the meantime keep an eye on BCMD and if it appears that it is becoming a better intermediate or long term investment jump back in with the same size entry(or with probably more money at this point because the money taken out earlier has now increased). The answer is yes. Would it make sense to do this? Yes, again.
While my original entry into BCMD was at a near high some months ago, I have accumulated at dips since then. Recently, though, I have sold off 90% of my investment over a brief period of time. I am leaving in 3,000 shares as my toe hold just in case things begin to look different. Even if I wanted back in beyond the 3,000 shares, and if I had to do so at 2, I would still be ahead.
This doesn't really mean anything. It doesn't mean that BCMD is bad in any way, only that my investment doesn't make me any money, it in fact loses money, either because of the stock price declining or simply just languishing.
This has been an unusual experience for me. I really did expect this stock to jump some and validate itself. Normally, I like long term investments to afford me some real trading opportunities in addition to their long term appeal- short term swing opportunities that provide me with the profits I need to live on(eg. intc, csco,wfmi, cpq, synt). I also have other swing trades that are not in addition long term, and several day trades I attend to as well.
My reasons for selling BCMD just reflect my own thinking and my own circumstances. I really can't say anything bad about it. I post this only because I have followed this thread for quite some time now, and because I have experienced community here and feel a part of it. I will continue to follow, and perhaps post some too.
Best,
Charliss
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