Well, my selling at $3.40 turns out to be a good thing. A very good thing.
" I bought expecting this thing to go from $1 to maybe $2.50. Since I don't buy on hype, but try to buy on fundamentals, that would be huge for me. Then, I kept adding on the way up, until I had a LOT of shares. At $3.40, I think it has overstepped it's target. Might be wrong, and hope for all longs I am, but sold rest this morning."
But .......
at $2, I am getting tempted again. I see an issue over the past few days, as every day at the close there is a T-trade. meaning some insider or private investor is selling. They are knocking it down with their sales. The day they came out with the news of China kicking their load back to Australia, the stock traded over 10 million shares at the close. Then, AT the close, a t-trade came in at 10 million more. Meaning during the day the seller sold almost the entire volume that traded. And they were probably restricted from selling while the news was known to the company (held for 82 days!) and yet not public. So, Reg FD restricted the sell. With the release of the news, they could sell. And boy did they!! Normally they don't allow more than 50% of the volume, but someone did. And the t-trades have continued. The seller sells in the first hour of the day a large amount of his or her shares. Then, the rest of the day is dribbles too. Let's see where today's t-trade shows up. Watch the large last trade right at the end of the day. Sometimes a little early, if they close the sale early in the day, but normally right at the close. When this person is done, I think this stock is a buy again. Just need to let these 6% - 10% negative days end first.
Still out at this time. But intereseted and watching again ........
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