Point of Clarification for those who follow my trading activities…
After receiving a few emails and vmails I’d like to clarify my stance on PBLS. As many of you know I’ve been in this play since pre-katrina. I have been a strong supporter of the company in the past and have made some pretty stinging remarks about the management, more specifically their style.
IMHCowboyO….. Management has trouble with the complete truth, they have a penchant for putting enough truth in their communications to us to keep themselves out of trouble while sheltering themselves with safeguards provided in the caveat paragraphs.
This has not served us longs well, unverifiable PR’s are the norm, buying marginal companies with the hope of them turning a profit is the expectation, and ultimate pruning of these companies occur as we talk. If this was a company run by seasoned well trained executives we would have a pretty good chance of moderate success, and most of you will agree that we have seen that type of performance out of this bunch yet.
My personal opinion is that we will not in the long run making this play now a flip type investment, where timing is everything. Not for those investing their mortgage money and kids education fund. I personally have ridden this stock all the way to 12.8cents, at that time I had a sell point and orders in at .15, oh well didn’t make it. I literally could have pocketed millions as I did the same thing with LFWK/SLJB and rode that one from .004 to 20.8 cents and didn’t sell a share.
So be it, learned a great lesson, pinkyland stocks are at best flip products, no long term holding as you will get stuck as a bag holder. My trading pattern now is simply buy in at a reasonably low point and sell on the run, don’t try to pick bottoms or tops, you and I are simply not that good. A solid 3-5 bagger is enough, if I followed this plan over the last two years I would have millions in my trading account instead of $100K.
My only interest in PBLS at this point is to flip it and recover some of the money as they flounder and periodically pump it up a bit. Several cycles on this roller-coaster ride should help me regain my original investment capital lost in the last two years.
Risk only what you can afford to lose.
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