Replies to post #59224 on Medinah Minerals (MDMN)

[Beth0515]

I would venture to guess most of the true believers have "had it with these guys" but they are either in too deep to get out, too embarrassed to admit they sunk money down a black hole or fear the repercussions from the "club" if they break away and actually logically reason this out.

Spot on, Pilot.

I'm definitely no longer a true believer, and find myself stuck somewhere between 0.12 and 0.13/share. Selling at these levels is almost pointless, even when holding a considerable number of shares.

I've rationalized that there is a 5% chance that there will be pump/real news in the future with enough energy to provide me an escape hatch. If that doesn't happen, I'm fairly convinced they'll be able to continue to behave like this indefinitely, and there will be short term opportunities to get out if I'm paying attention. If the true believers have stuck with this train this long, they're likely going to stick around forever. After all, it isn't like the company can behave in a more embarrassing fashion in the future as they've already established the gold standard.

Another "support level" I believe in is that there are big true believer groups holding tens of millions of shares in the aggregate. These guys realize that any real dump of their position would quickly erode share price as MDMN support is historically weak in the face of serious volume, devastating their realization upon exit. Ironic, isn't it?