GREY:MLKKF - Post by User
Post by
24~Karaton Jul 16, 2007 9:59pm
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Post# 13098679
The Score: True Believers, 100….. jims, -0-
The Score: True Believers, 100….. jims, -0- Like anyone else who posts at, or who reads this forum, I am always grateful for nuggets of wisdom. As recently as May 17, with the price of Mercator Minerals trading at $5.40 per share, the readers of this board were treated to one truly priceless nugget of wisdom (and it is quoted below)
“ML, I suspect has seen its best price levels until next March. Shock and AWE you say....yes, what's it got till then...mine development progress, great...no earnings expansion to speak of for a year. Early next year we'll go through this mining cycle again and anticipation will grow with regards to ML and it'll peak about the same time...May 11th...maybe the 14th...
“Let's get bullish at the bottom of this decline, not at the peak or during the decline... “
The significance of that post has greater depth than what is apparent on its surface. It was posted in rebuttal to my contention that the conventional wisdom of “Selling in May” was to be ignored, for two reasons: 1.) That it had become a cliché, and, as such, was already discounted in the market, and 2) That ML was a very special situation.