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Tuesday, August 19, 2008 11:03:32 AM
Averaging down is fine if the stock makes a trend reversal and begins heading upward. However, we've not seen that taking place yet, unless you consider a whopping 91K shares at .0090 as a clear indication of a trend shift, which I don't.
There is no point throwing good money after bad and at this point there's nothing taking place to give us the impression that we'll not just continue to drift lower.
So IMO he's doing exactly what he should be doing, which is waiting for a clear indication that the trend is actually changing. Then and only then, might it be worthwhile to average down.
But as quickly as this is capable of moving, with the right news .025 could be easily attainable with any amount of buying pressure.
So while he might see a 10 Bagger, he could still just as easily see a 100% gain. Thats IF they release the news they've been dragging out for far too long.
Top Gun Trading Rocks!!!
IHUB Board: #board-9520
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