GREY:ESPAF - Post by User
Post by
robjameon Sep 05, 2014 10:06am
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Post# 22909318
ESP Investing
ESP InvestingIn My opinion, it is important to not fall in love with any stock and have a sensible and reasoned plan. Investing on emotion just does not work though emotion is what drives the market.
ESP is a speculative stock - it's stock price is not yet justified by the fundamentals. The movement lately support this. Speculative stocks move more than others when there is lack of company news and when there is market corrections.
I had a large position which I sold @ $2.75 on the way down. I bought back a partial position @ $2.50 (about 15% of my former position). I will continue to trade within this range until the stock holds @ $2.95 when I will re-establish my full position.
IF I see a base being established at a lower price I will buy more.
There is a flawed belief that you buy when a stock price falls. Institutions and savy investors know that you buy and sell into the trend. You buy when a stock is showing strength. You don't buy more when a stock drops.
I hope someone will find something useful in this. Good luck all.