RE:Eddy, Fundamentals have not changed....quick questionLong story short stock price often has little to nothing to do with value. We were late comers to the name and only became acquainted with it because I follow the main shorters on Twitter so it naturally piqued my interest. The main short thesis appeared to revolve primarily around valuation which was a fair point at the time given how high the stock rose over such a small period. Mean reversion was inevitable so it was a huge opportunity there to go short with so many greenhorn investors who have no clue or respect for volatility and panic at the first sign of resistance.
It was an easy and obvious shakeout opportunity so we joined the party just before the first SA article was released and rode the panic piledriver down. We were able to make up for the previously missed opportunity very quickly and then accumulate from many weak hands tapping out early. I took a lot of abuse but I've said it before, it's all about opportunity cost and making money in all time frames. I took some trading profits at $1.75 -1.90 with the likes of bird but it's doubtful that seasoned longs here will be fooled again.
So my position on this opportunity never changed a bit, we were just making up for lost time and using every tool at our disposal. Traditional morality doesn't have much of a place in the markets I'm afraid which is why I tell people not to even read social media when it comes to investing, it's strictly a competition for resources. One can only gaze into the ruthlessly indifferent abyss of Mr. Market's soul for so long before compulsion finally descends upon us to atone and seek redemption by spreading his truth. I believe our salvation is close at hand. Cheers BigDaddy, and to all departed and remaining longs.
BIGDADDYshares1 wrote: Eddy,
Enjoy reading your posts of late. Was going to sent you a PM, but thought it would be of value to ask you on the board.
What changed your mind on this stock? Previously you were quite negative on NXO, or quite conceivably it was just the rapid increase in price over a "short" period of time (no pun intended). The fundamentals of the company have not changed; Management team impressive, cash in the bank, every annoncement on time, patents expedited etc etc.
You are a self proclaimed reformer....would love to hear your rationale for your position change.
Thanks in advance.
Cheers.
BD