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Saturday, October 31, 2009 2:17:44 PM
COIN has been far more stable (less volatile than RAMR) than that in the last 52 weeks, but if panic sets in, in the next week or two, many great stocks could get hammered again like in March. I don't expect anything like the March lows, but the last correction in June-July isthe likely pattern that has started, so I am keeping some dry powder, and some Puts in play so as to have cash to buy more stocks at the next big lows which I expect we might see in the next 2 weeks.
I won't be surprised to see COIN hit .50 in the next 2-3 weeks, unless it comes out with timely news that holds it up on panic days (note that my APWR stock I am also long on did just that during the Wed & Fri panic sell offs this week, and Coin could do the same!) in Which case this price might be the last bargain level, or bottom. So don't be surprised if it bounces between .50 and $1.00 the next few weeks, as it is not COIN's fault, but the recent highs and fear (mixed with greed) making the market more volatile again like it was earlier this year.
Bottom line is for potential investors looking at COIN, IMHO if you don't own any yet, this is a good price to START buying some shares (but don't jump all in with everything!), but hold some cash too for a possibly lower add over the current market correction (next 2-8 weeks)should it continue. Buy it for the long haul looking at 9-18 months for it to go to the $2-$4 range, depending on how the overall market performs.
Coin was far less financially sound 6 months, 12 months and 18 months ago, than it is now! And the current price (IIRC) is about 20% of it's 2 year high, and 1/3 of its 4-6 month ago high. Long story short this is good stock to start accumulating this month, even if it goes lower.
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