Beth, at this point, making hay on this stock has become secondary. I find it strange that I even say that, given that the only reason I first got involved was and should still be to hit pay dirt.
However, as you, it has become difficult to do a clear read of the tea leaves with Medinah. Or as they do in Turkey, reading the Turkish coffee cup after the dark, rich bitter coffee has been eaten (it's not Starbucks, you don't drink Turkish coffee).
If you will indulge me for a moment, upon emptying the cup, as the coffee residue sticks to the sides of the cup, the consumer hands the cup to the sage who has been reading coffee residue patterns for generations. So, the fortune telling, or the read starts. And of course it is amusing to hear all the preponderance of things to come. Life changing events are unfolded, along with fortunes gained and lost which are only evident to the sage. And the one who just put down three ounces of Turkish mud doesn't quite know how to take all this new vision which is offered by the sage. He/she is amused and also gains hope with each tale of the golden years that are still in store.
Staying long in this stock has been analogous to the above description. I have made fortunes, and lost and made fortunes in stocks, but this one takes the cup.
A part of me is totally in the camp of Krak, and the other, with the longs who have hope. And hope alone never made a dime for anyone in the stock market or any other investment/endeavor.
I see through their fluff announcements. I am fascinated that a well respected man of the stature of JJ, a long standing member of the legal profession, can and does say the things I read. In fact, those phony, idiotic, and clear as mud announcements kept me from taking the first leap when I first discovered the stock at sub $0.02 many years ago. The kinds of promising announcements were just too penny stock fraudster announcements. So I stayed away, until I bought into a much respected friend's insight into this company/stock. So, while I did not bet the farm, I also in turn brought in a few of my friends. So together, we have been suffering this tale for a few years now. As we mostly got in at the tops, did some averaging down, we are now waiting for pay day.
As you, we await for each daily ridiculous event that reinforces the notion that this was and has become an amateur show. Yes, we now have the piano man who plays a different tune. We even have the new member of the renowned Letts family on board. But so far, those two additions and $0.99 have not added to an amount that could get me bottled water in my neck of the woods. I have to pay Jerry Brown his share, so it costs me $1.08 each time I stop in at the gas station to fill up, and pick up a bottle of water to quench my thirst as I head into a meeting or appointment.
So, we sit. I don't even have a definitive plan as to what to do if it goes down from here or if it explodes from here. I may take my profits if I see $0.20 plus. But then what if it runs as a fraudulent penny stock did as I sat and watched it run from $0.10 to $1.30 in seven trading days on huge volume and now is begging to trade above $0.05. So, it is a dilemma.
I may average down some more if it hits below $0.04 again. I do believe if nothing of substance is produced by the company in the near term, and this stock trades lower to the sub nickel level, it then becomes a trading stock for me as I can, with a fairly good level of prediction get in and out of this stock, especially when it hits high volume days.
I don't know about you, but I have decided to add to my CV. For years I had completely ignored the huge value I brought to the table to my investment community, from all the seminars I attended. I see that is clearly one of the top reasons Letts was brought on board. So here it goes. My CV just turned from one paragraph summary to 1,897 pages. You know! all the seminars I attended add up.
I will end my morning torture. I coach my grand daughter's volleyball team. I will go and enjoy the day with them, and put this on the back burner for now.
Enjoy your weekend.
