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Monday, March 29, 2010 2:56:29 PM
Second, like I said before, I am a long term investor waiting for the day traders to exit. Once the price stabilizes, and the "pumpers" are gone, then I will accept the consequences of the risk I have incurred. I have been around the block a few times and seen the stocks that are pumped flatline instantly. This stock is showing quite a bit of resistance, which provoked my position, yesterday.
If the company is worthless than the long term value of the stock will reflect that; however, if it is not, and with good news it takes off, then I would like to be there to benefit from the company's growth. I, like other longs, don't get emotional or frantic with daily swings, but instead, look forward to the disclosure of the financials. If at that time they are terrible, then I might take a bit of a haircut, but if they are remotely encouraging, then I will maintain my position.
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