Lessons Learned:
I've been a loyal shareholder of Eigh since January and felt compelled to make this post. It is my opinion as well as part of my healing process for what almost certainly will happen in less than two weeks.
Before the divi disaster began the plummet of the stock, I had a six figure profit in EIGH. Now if I'm lucky I wll have a three figure balance. I understand that many many are much worse off than I am and I'm not fishing for sympathy, I'm just setting the stage for why I'm where I'm at emotionally with this. For all practical purposes I am in the process of emotionally divorcing myself from the entire balance in EIGH. I do not expect anything good to come out of the SEC suspension.
I'm also disappointed in the lack of former key shareholders posting since the halt. There are some posters that posted constantly prior to the halt encouraging fellow shareholders to hold at all costs, avoid the noise, etc... yet they can't even post something now? Even if your post is something like "I'm in shock and will await the facts to come out before forming my opinion" But to me, their silence speaks volumes. One poster that I'm very impressed with that does not fit this description is Don. Thank you Don for posting and keeping it real. Where are the others? Silence is not comforting to anyone at this moment. We need to bounce different ideas and viewpoints around, comfort each other, etc... Is this not what a family does?
Several posters have stated that the facts will come out soon. IMO only the facts that the SEC and MM's want to come out will come out. I do not believe that the timing of the halt, just hours after the newsletter, was a coincidence. I believe that the buying pressure would have been very high after the newsletter. Part of my lessons learned is that their is indeed corruption in the pinks and not just the companies, but also the MM's and some fellow investors that posed as friends. If I lose every single penny, I will be able to say that I honestly lost it without misrepresenting myself or misleading others. I honestly lost it and for that I am at peace with myself.
Even if the outcome is positive for us, Jerry has some explaining to do concerning his lack of communication during critical time periods. "Know what you hold", "trust the team", "avoid the noise", just don't work anymore and offer no real comfort. Oh, the irony of it all. I actually sold my other hope stocks to get into EIGH and it turned out to be the greatest hope stock of all. None of those hope stocks have been halted by the SEC by the way. Even with the above said, I am grateful for learning to trade the F's in Atlanta by Jerry. This skill, once refined, will possibly help me earn a living for my family from home.
For arguments sake let's say that trading resumes as normal on the 18th. Is it not obvious to all that there will be a major dump of shares just like the C stock? I feel terrible for those shareholders as well. The way I see it, the company will have roughly 6weeks to make something incredible happen if trading resumes because if not, most all will cash out their positions so they can claim the losses on their taxes.
I am still a shareholder, of course, I couldn't sell if I wanted to at this point and I will absolutely await the results of the SEC findings before my final opinion is formed. No matter what happens, several key people made huge mistakes that got us to where we are now.
I'm not upset with anyone more than myself. I knowingly played with fire and kept playing with it, rather than taking some profit off the table.
Summary of Lessons Learned:
1. NEVER trust anyone in the pinks, ANYONE.
2. NEVER get emotionally attached to any stock. My wife saw the brokerage account at .44 and said "sell". I said "No Deal". How did she know? Does she have any formal training in the stock market? No, she's a housewife that is not emotionally invested in the stock and therefore saw things clearly for what they were.
3. Take profit when it's there. Taking 20-50% is better than losing it ALL.
4. If it sounds too good to be true, it is.
In conclusion, I am a little bitter at the moment, but while my head is bowed, I am not broken. I will overcome this and be a smarter, stronger trader and person. I may not be able to daytrade for 7years or more as I build up the minimum balance, but I will not give up on trading. I'll just give up on trading stinkie pinkies. I count my many blessings and consider myself very blessed to have my faith, family, friends and health. Money isn't inherently evil, but the love of money and coveting of it is. I sinned before the Lord and am now humbled, seeking forgiveness for my sin. This time, I will seek the guidance of the Lord first, rather than deciding what is best for me and asking him to bless it.
I know this was long and if you're still here, thanks. If I offended a teammate or two, I'm sorry, I really am, but this is part of the healing process for me. My final opinion has not been formed yet and I will await more info before forming it. If EIGH and Jerry come through this in a positive manner, I will be very happy for them.
Neil
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