what to do
I have been on this board for a long time and lost alot of money on this stock. I own 10,000 shares been in this stock for a few years i averaged down saying in time it can only go up. Now I feel othewise I am thinking of trying to sell at anything over .50
I said before whats $2 after all I lost already just hold, Now I feel 5 grand is better than nothing at all.
I am looking for advice. why I should hold or wait a min further.
all comments welcome
You've asked the million dollar question.
It appears the company will stave of bankruptcy, but more dilution is certain and nobody quite knows if it is already baked in the price or it's going alot lower.
I know, alot lower your saying ? Well. % wise, if it goes to .25 cents is another 30% down.
Wienkes from GS still has a conviction sell even after the stock broke through his lastest price target of .50.
I want to buy if there is going to be some kind of short covering, but skeptical because the price action is scary. It seems as if nobody wants this stock at all - no buying interest. I find it hard to believe at these levels.
IMO, if anything, I wouldn't buy right now, not until we are certain the split and dilution won't happen. Selling right now is iffy too, considering the delisting rule has been postponed. Everything could turn around come january/february after holidays and merger synergies and financing.
If the split or dilution happens I would venture you have that market day to get out.
Watch the news closely through november....
The thing to remember is that when the GS analyst Weinkes reiterated his "conviction sell" on the stock, he basically said that he always assumed that the stock would have to be diluted, yet he did not change his price target. To me, this means that Weinkes is assuming that the dilution is BUILT INTO the stock.
My current investment plan: HOLD until Q3 CC, then evaluate what Mel says. If I like, then I'll buy into weakness. If I dont like or hate, I'll hold. If I hate what he says, I'll sell and take my chump change. I, like you, have lost a LOT of money on this stock, but I think the Q3 is going to be VERY enlightening and will by my determining factor as to hold, sell, or accumulate.
So to make the long story even longer: Wait until Q3 CC (which should be in the next 2-3 weeks) to make your determination.
yeah, my advice, if your thinking of selling now, just before the Q3 report set a limit to sell at a point you think the stock is tanking if Q3 report is good it shouldn't go down. IMO.