Monday, December 13, 2010 10:55:36 PM
By some very experienced traders (whom I'm very grateful for), I knew we had another sp*ng scenario taking place. Comparing the coy changes to Parham's phone and fax numbers immediately reminded of the fake attorney letterhead without a phone number in sp*nge.
I was duped and knew I had to act fast. My only resort was to put in a market order to sell in hopes of at least being early on the queue so that even with a gap down, I oould be one of the first out. I bought on Thurs. at .46 and had chances to take profits both Thurs. and Fri. and failed to do so. In retrospect, I saw how excessive greed overwhelmed me two days in a row.
I prayed for a P/R before today's opening. I knew SAEI would gap down hard, otherwise. I'm deeply appreciative that my prayers were answered and I was able to escape at the opening bell at .72.
Learning when to take profits has been the hardest thing for me to do. Hopefully, I will be able to start applying this golden rule in the future.
Good Luck to all those still holding. I don't mean to scare anyone, but its crystal clear that the SEC will be closing the shutters very soon and without warning.
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