I'm a long term investor as well. Every time I have sold a few shares during a spike, I purchased just as many, OR MORE, on a subsequent dip. It's Investing 101. Profit on your own money and risk the house's money.
Also, I have always done it in a responsible manner. I've never sold into a run killing it. Many times, when spikes would come, and there was no news in the pipeline, I would ask IR Mike if something was cooking that I didn't know about (Not asking for insider info, just "is there something brewing?"). When he responded "NO", (and that was very typical with JSB, never anything going on), that was the main times of some of my trades.
Next, there were a TON of times that Champ and I were the ones who held the Bid line. We had the safety nets that kept this from sinking when no one else had any faith. I'm not independently wealthy, so the only way to do that was to keep ready cash available, by selling some at profitable levels.
Say what you want. There is nothing wrong with taking some profits and keeping them. I have always used my profits to invest back into the company, knowing that an investing cycle is cyclical (hmm, imagine that). Sell 100, buy 125 back.
My money program shows me at an average price of just over .12/share, and I know for a fact that a bunch of those shares are "free"- some day Quicken will figure out how to program their software to reflect that.
So, in summation, it's not the company's fault if individual's don't perform the basics of investing. Nemes is putting together a company that requires a PPS to grow and match it. I will not stand in the way of that valuation taking place, but when the time and situations are correct, I will again take some profit, and if opportunity presents, I will buy back an equal or greater amount.
No apologies.
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