RE:RE:Is ABL insinuating that Novo is the next Bre-X ?Perambulator wrote: Deep down, I think most Novo followers have come to realise that ABL is pretty well spot on with his comments, To believe that the Fanboys on CEO will acknowledge it publicly on a Forum would be naive, after all many have made a pretty big committment financially on Novo, and to admit Allan is right means admitting defeat.
For the mostly first time holders who still remain holding, thats a huge obstacle to overcome, some never can admit they were taken in so deeply. But those of us that have been around the market for a while will probably admit they were taken in too by a similar story in their early years of trading, and admitting you got it so wrong was the first step toward sucessfull trading. You dont make similar mistakes again in future, and learn to recognise that Posters like Rhino who know the area and the industry are a very valuable resource.
To those left holding Novo- you will have to face up to reality, it cannot be put off indefinately. Once the smart money has left things never get better. Thats how the market works.
Perm,
Good post. I'm not sure the "smart money" has left yet however. Like Sprott said (paraphrasing): "I can't leave, I've got too much invested in it". The dumb money has not left yet that's for sure. When that happens look out below. If someone came down from Mars and evaluated Novo based on PUBLISHED data (promises and news releases), and announced progress to date, they would be crazy to invest a dime in this stock. It's been nothing but head fakes, a moveable focus, and delayed announcements. We've done more site jumping than a kangaroo! And Allan is right, we have lots and lots of UNRELEASED information that is probably BAD which is the only possible reason why it's not been released to date.
I get a real chuckle when I heard last week about some here spouting about Sumitomo "next week". You know you have wishers, hopium, and FOMO when you scrape the bottom of the barrel and pray for a deaf and dumb savior to validate your positions, based on two year old information that has NEVER since been mentioned or updated. What were they thinking hanging their hats on Sumitomo validating the investment with the little data available (and all the mistakes made along the way)? Anyone heard of the keystone cops?
Reminds me of an internet bank stock that I used to own back before the internet had no commerce. The brainiacs on the boards were constantly looking to a website upgrade capable of 'flash' (moving videos) to save the company. "We go to the moon when they rollout flash!" "A real competitive advantage!" Heck it wasn't, it was a BANK for crying out loud. The 'flash' was an incremental website upgrade. Had nothing to do with banking. That's when I sold. They were pulling at straws to make the investment work out! It eventually went bankrupt and those fellows lost their entire investments. Shouting Sumitomo from the rafters here, is the equivilent of that banks "Flash" website pump. I'm just waiting and hoping now for an exit point. To get out with my neck unscathed. The stock is so volatile and emotional I can forsee $3 US again on pure adreneline on it's way back to below $1. That's when you no longer have to put up with me here...
Icarus
Icarus