Myth,
I cant remember if I posted this or merely thought it but I figured the share price would drop to $0.01 just before or just after the 10Q. In the past I've bought before the quarterly and annual reports and I've been burned pretty much everytime. I'm happy for the 10Q to be posted and get the non event out of the way.
I dont see the 10Q being a reason to buy the stock, news about the two Redwood clients is already out. The price action especially on the up days does indicate selling pressure (check out the upper shadows on the candlechart). Next big news will be the closure of the China Paper deal which between us we feel is 3 to 9 months from completion.
None of this information compels me to buy at the moment. I'm not saying the stock isn't undervalued it is but at the moment very very few people are interested in SIVC so there isn't a market. Plus I have the foreign exchange to consider, as the dollar continues to slide against Sterling, I need to make sure I'm in dollars for the least amount of time. So why should I risk adding to my position which incidentially is 80%+ down?
I'll admit when I was talking about $0.012 I was focusing on getting a cheap price but I followed the old quote which goes something like...
Once you've decided to buy a stock wait three days
I looked at the bigger picture and decided to hold for the moment. The sheer fact that I've decided not to buy is a clear indication that SIVC will explode in several days from now... :o0, such is my timing. :o)
For £1000 I can buy 200,000 shares, which really is an amount I'm willing to lose on SIVC. I can raise that pretty much anytime I want so I'm not in a rush.
You offloaded at $0.021 are you considering getting back in around $0.01?
Regards
BG
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