You hit the nail on the head jockin, KNOW WHAT YOU OWN AND WHY YOU OWN IT!. People ask me how I made so much money, because they were in many of the same stocks I was. It always came down to they sold out of a big position due to impatience or fear on a dip. It happens all the time! My #1 rule and the only one I really pay attention to is; Did something materially change within the company, it's products and/or market that necessitates re-evaluating my investment and possibly liquidate all my shares or lighten the load due to an additional risk that has surfaced.
In this case we knew all about, or should have known about Sabby selling all these shares and that has not changed, nor has anything else changed, other than a small non-event of some minor insider selling. To me it is clear that all is as it was last week and the week before that and so on and so on. Thus I see no reason to sell, so I won't. I am only trying to decide if I want to add here or wait, since I missed those 80's this morning. Now I sit and wait and watch to see if I can take advantage of the impatient and/or fearful investor who folded due to the outside noise or the dip in the share price.
It is entirely a different story, if they were taken out by a stop loss, but in this case, the stop loss should have been far enough below this level to prevent one from getting stopped out. Unless they had a stop loss way too small for this type of speculative and volatile stock. In these types of investments or trades you want a minimum of a 35% stop loss to prevent the MM's of playing their games to stop you out. In my speculative plays I employ a 50% stop loss or a specific time limit of 6 months to year to re-evaluate the situation. Some say that is awful risky and you could stand to lose a lot that way. I guess that is why those who do their real DD don't end up in too many of those situations. However, a loss will happen and the trick is to not let one single investment cripple you, thus you have to diversify correctly also. i have a certain amount set aside for speculative stocks and sometimes I may put it all into one stock or spread it out to as many as 5. Any more than that, I miss out on the huge gains, by not investing enough behind a great opportunity and the fact that I can't focus enough to know what is happening with more than 5 at a time. Always have enough invested in the safer stocks to protect you.
XXII looks to be a great opportunity and is one of my 5, thanks to Vang. Cheers!
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