Replies to post #2312 on TAO Minerals Ltd. (fka TAON)

[JTJ]

TAOL news release from today (in case anyone missed it):

Tao Minerals Announces Receipt of $100,000 Tranche, Completing Funding From $500,000 Financing Agreement

MEDELLIN, COLOMBIA, Oct 24, 2008 (MARKET WIRE via COMTEX) -- Tao Minerals, Ltd. (TAOL) is pleased to report that it has received a tranche of $100,000 from a $500,000 financing agreement previously announced in a news release dated June 5, 2008. This $100,000 constitutes the final payment from the lender under the agreement and satisfies the lender's commitment to Tao under that contract. Tao will utilize funds from this tranche for corporate expenses and the funding of mine operations activities at Tao's El Colmillo Gold Mine.

Monies from this $500,000 financing have enabled Tao to repair and upgrade the mining and processing facilities at El Colmillo in preparation for the initiation of full operations at an initial Phase I processing rate of 20 tonnes of ore per day, with a Phase II goal of 30 TPD and a Phase III goal of 100 TPD.

Startup operations are in progress at El Colmillo and will be detailed in an upcoming news release, followed directly by an announcement of the posting of new photographs on the Tao website, illustrating that progress -- including pictures of new equipment, accumulated ore reserves, etc.

[JTJ]

I'm following Joe's advise. I'm out of Tao...

I don't have any info or inside information. But I have decided to "trade what I SEE, not what I HOPE". What I SEE in the chart is downright UGLY. Therefore I have liquidated all my shares in TAOL for a stinging $4400 loss(ouch!) and will wait this one out on the sidelines. If by a miracle this works out and they actually produce gold, then there will be plenty of time to get back involved, *albeit not at the exact bottom...

I've learned over the years (through many nasty experiences) that trying to pick a bottom is an unwise plan of action. Better to get involved with stocks in a confirmed uptrend. I wish I had never gotten talked into buying this stock by a friend. He made such a persuasive argument about how this stock was just going to start production and the shares were dirt cheap etc etc etc. Greed got the best of me as I bought a million shares at .008, thinking I will make a killing if it just goes to $1. What I JERK I have been...

I have done the same thing lately with Gold Stocks such as Barrick, Newmont, Royal Gold etc. Fundamentals tell you that these top notch precious metals stocks should do great with all the $$$ the govt is "creating". However, one look at the chart tells a different story (one that I ignored to my detriment). I have liquidated these losing positions also and will only buy them when they are in confirmed uptrends.

Bottom line with ANY investment you are considering:

TRADE WHAT YOU SEE, NOT WHAT YOU HOPE!


You will never be able to brag about buying the bottom, but it will keep you out of nightmares like TAOL (or the many many many many many other strongly down trending stocks hint hint; we're in a bear market) and make/save you $.


PS I sincerely hope things work out for you all (and my friend Bill) with Taol. I just can't ignore the trend any longer. The TREND is my real friend.