Someone please lend me a straw!
So I can suck it up. Yes, there are those trying to pick the bones, but prematurely. With determination, the company perseveres. As do I.
At this price level, I will not stress over any sells, or celebrate any buys, of only a few shares, or even 1,000,000. Now 10,000,000 will certainly get my attention. But we have not seen anything like that recently.
And we will not. Not until good news from Gulfslope. It will take partnership news or a drilling deal to bust out buying like that.
Perspective. A recent low trade was barely 1% of the low total volume on that day, with a value of $15. Not really all that unsettling. I think that was the main essence of spec’s message at the time. And I agree.
To me, the question is not so much who is selling or what is their motivation? The questions should be who is it that is willing to buy? And why now? If it is believed the stock is valued correctly, why would anyone buy now? And if the stock is undervalued, who will sell now? Obviously, there is a disconnect here.
But folks have the right to sell and take a loss on purpose. Although I struggle to see the rationale for trading a small limited benefit in income tax reduction for a missed opportunity at a much larger return. I am not sure I buy it.
But what if this is nothing more than a coordinated attempt to influence the price lower for someone’s own advantage and purposes. And that is all it was. Nothing but a transitory moment in the dynamics of a stock’s expected day-to-day fluctuations. Accordingly, there is no ‘yikes’ moment to direct our attention towards. That is the bottom line.
The answer to the question of who is willing to buy right now might be a simple one. Consider that the way to huge returns in this stock involve amassing large numbers of shares. And pushing the share price as low as possible enables buying large volumes for small investment. The only problem is there are not large numbers of shares for sale. But what if shareholders can be convinced to sell?
Not a new strategy. The next step will be to reverse course and support the stock to rise. At some point, the shares will be sold for a healthy gain, but probably not a huge return.
I have no interest in playing penny ante, and it is one’s own trade decision and one’s own pocket to do as one sees fit. Choosing the investing path that is seen as most appealing that can justify the risk for the reward offered?
But, I will need a better stimulus to act. I was once told that there is never money lost, nor made, until after the trade. There is no money to be made on trades these days, and I find no justification to incur any loss either. So, standing pat is still my stance for now, shares in my pocket. Just awaiting the news that changes the stock’s fundamentals moving forward. And then on to the ‘Big Show’.
My DNA seems to lack the requirements to be a trader. I prefer patience and perseverance with a wildcatter’s instinct. But no penny ante here. My stock will be sold, but for dollars.
Merry Christmas and Happy New Year.
Mrs. Smith
