I agree. People have different trading styles. When I said your comments were incorrect I was referring to the fact that you made it look as if the Small Cap guys hyped the stock, made money and let it drop before others had the time to sell (<That is only true for the quick traders who are fast enough to sell at that price before the stock deflates to a new low.>). That is incorrect, because the IR firm had to work on the stock and wait to sell for 12 months before making ANY money, which gave ample time to other investors to sell before them.
As you say, it is always good to take a profit and if I see a stock moving up in price with volume that allows me to make a reasonable profit, I sell. How long I keep the stock is irrelevant to the decision of selling or holding.
You think that holding an OTC stock for 6 months before selling it is too short? I think it is reasonable.
<I'm speaking more for the long term holders here who bought into believing that there was a long term positive outcome in store for BOCX.>
There are so many angles to comment on this. They are all philosophical and off topic:
1) The shareholders are the owners of a public company; they are not disengaged from what happens to it. If we all sell in a panic and the price drops, we cannot complain to management; we did it. This is not a very popular point because we love pointing fingers at others, but it is true.
2) When something big happens and the price moves up, in an OTC company it usually slides back a bit. Brokers know that the price is overshooting and when they see the stock is running out of steam they short it. This brings the price down and they cover in the following days. Since the news is already old, the buying for covering does not push the price that much up and they make some money. So, there is always someone left with stock at a higher value than the market. Kinda musical chairs. Why not sell? Because the reward of holding appears to be better. You make your bet. You estimate how high it will get and you chose your selling price. Some get lucky, some don't.
3) For those who are REALLY long term and expect the company to make it big time, the musical chairs game is irrelevant; they would not sell anyway. This group is the worst hit by the recession, because everything is underwater. However, there is also a good opportunity, because if they like a company, they bought before at 5 times current values, and they still like that company, then buying more at 1/5 of the value is a good deal in the long run.
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