Greed & Fear
A combination of greed and fear moved the market today.
Small investors not in the know, seeing some weakness this morning and
fearing FRP had somehow topped out yesterday at $1.10, sold into
the market. Two lessons to learn here - #1, never sell into weakness if you
can avoid it; #2, always understand your investment and keep up with
developments (any seller who thought FRP had somehow topped out yesterday
couldn't be more off the mark).
So where does the greed come in? There's been a lot of insider
positioning in recent weeks, and we're still seeing it. I strongly
suspect the central players in this deal are attempting to place
some more individuals with some large blocks around the $1.00 area,
before this thing finally blasts off into the stratosphere. One block
of 100,000 was picked up just recently at 85 cents. I suspect these
players may have been concerned about yesterday's strong move and
wanted to see FRP back off a little to complete some positioning at
more favorable prices. This is just a theory but I think it holds some
water.
What we're seeing now with FRP is kind of like foreplay - soon enough
we'll get through with this and get on to the serious stuff. The
fireworks is coming, and it's going to be awesome.
Extremely bullish and long.