RE:Mr2 I am going to spend a little bit more time here than I'd like but its out of appreciation to all the members, many who may not post but I know are reading and have been following me for some time, as I wont be posting as often here the next few days if not weeks.
PAPI: Out of the blue you pulled a 180, where did that come from.
Indeed you are correct - I did pull a 180 and allow me to explain.
I fully expect and still somewhat do believe Score's stock price would rise based on hype alone and excitement of sports restarting - kind of like how the over all stock market been flying lately simply because states starting re-opening again which fundamentally nothing has changed yet markets are damn well near their highs today at the peak.
However, what changed is my mind set after diving deeper into the re-opening of sports in particular NBA and NHL where score derives a lot of its sports betting revenue.
The hoops the commissioners are creating for these sports leagues to get back open in my opinion is outrageous. I dont want to get into debates with anyone on this board regarding my thoughts on Covid19 but bottom line I do not fear it the way big government does and is. The rules and regulations being put into place I personally feels delays the start of these leagues and I now almost feel like either a) they wont even have a season or b) if they start up might be a chance get re-cancelled if all these protocals are not met or another second spike occurs which is I think going to inevitably happen regards.... no different than any other flu every damn year. People get sick in between winter and spring and then from summer to winter due to the climate change and viruses in the air.
When I started examing the time line of when sports will re-emerge and when Score will once again start generating sports betting revenue, I felt like it will be AFTER next earning announcement, therefore, creating a delay in the rebound I expected pushing back the mid-term results and rebound I expected. ie. why I went from "gung ho" to being rather dissappointed... wasnt in the Score but in the politics of whats transpiring and how I feel it will negatively impact the scores revenue model(s) and cause and effect of how that will impact the stock price or continued rise moving forward in the immediate future.
To further examine my thinking in taking profits off the table, as I always do, I reverted back to my charts and technical analysis although T.A for Score isnt as powerful as Ive discussed in the past given its low liquidity and volatility.
I trust my charts more than I trust humans and their opinions so I watched the indicators I examine daily and recently noticed a topping pattern forming and technicals curling down.
My Short Term 3 Month Daily chart was suggesting a resistance level at $0.60 emerging and with the bottom of the upward trendline at the $0.50 level, I seen a big possibility for a 18% decline back to that $0.50 level.... which might I add would still have the stock in a upward bullish trajectory - that said I did not want to lose 18% of the profit I had just gained!!!
I view all my trades with an investment mentality of RISK to REWARD and I want a minimum of a 3:1 Risk to Reward in my favour!
I bought these shares (I just sold) at $0.41 cent average so at $0.61 cents I was up nearly 50% in just a couple months - thats a fabulous return and was an incredible ST investment!
I seen major resistance happening at the $0.60 to $0.70 level... lets use $0.70 as best possible scenerio.
At $0.60 stock price equates to a potential 10 cent rise to $0.70 value (highest I imagined it could hit in the next few days or weeks) to a possible 10 cent decline to $0.50 support level so basically a 1:1 Risk to Reward..... since $0.60 was middle of that range I felt it was smartest to take HALF my position off the table!
You're ONLY right in this game WHEN YOU MAKE MONEY and I was up nearly 50% so I sold shares in my "trading account" making it a great winning trade and held what I own in my TFSA as my LONG TERM (1-2yr) VIEW on Score has NOT changed!
PAPI: Your a fine man indeed but i don't like the way you tapped out or exited. Sell and thats that, you need not give your reason as it is your money so do what you want. A lot of people don't see it the way you do, nor do I.
First of all, lets clarify for the record that I didnt "tap out" as the position I still hold I am confident is equal or greater than the majority of individuals on here, and the amount I had after I loaded up at $0.39 - $0.41 was greater than I wanted to own however Score was a steal at $0.40 and anyone who didnt load up knowing what we LONGs know was foolish as they missed an incredible opportunity.
I do believe I needed to give my reason out of integrity to be transparent with the board as we are all here for the same reason- to make money, NOT FRIENDS!
One of the greatest benefits us little retail guys have is the ability to "trade" in/out faster than institutions with major positions. I am sorry it upsets you that I have and others have taken advantage of that one benefit we have over the institutional players- the ability to get in and out, to take advantage of "over bought" and "over sold" opportunities.
With the Score's stock price jumping 100% from those lows of $0.275 on March 18th... I saw a good opportunity to take some money off the table at $0.60, as have others before me might I add, and nothing EVER wrong with scooping up profits in todays highly volatile and unpredictable markets!!!
As foolish as one would be for not buying shares at under $0.40... well I felt I would be equally foolish not taking profits off the table at $0.60+ after the stock doubled in price, and double topped and failed past several trading days.
With technicals I use for entry/exit strategies curling down, and from my perspective nothing particularly positive NEWS WISE outstanding to propel the stock much higher... I SOLD! Isnt that what we are here for? To make intelligent winning profitable trades?!
AND AGAIN EVEN IF IT DOES CONTINUE ITS RIDE... as a little retail guy, I can easily buy back 20-30K shares which I will do if/when SCR climbs and closes above $0.65+ so I am not concerned at all- people that need to be concerned are the ones with all their eggs in one basket, not accessing the risks in the market or in the industry given our current covid19 situation and the negative impact it has on our current revenue models! The overall general markets I firmly believe could and most likely will retest March low's and should that transpire it will take all stocks with them, so for me this was the right time to re-allocate my trading portfolio.
PAPI: I just hope your reasons (which we didn't have to know) don't influence thier decision or vision on this stock. A lot of people on this board are new to the game and i hope your reasoning for departing doesn't discourage thier mind set.
As investors, we all individually got to do our own due diligence and are responsible for our own actions. I too do hope that my reasoning doesnt discourage others in making an investment in Score because this is an incredible company with the greatest CEO on earth, in an industry that will be booming in the next couple years, BUT their is a process in becoming a leader in a new industry and I simply do not believe score is going to fly as quickly as we originally believed. Particularly now with this covid19 shadowing the economies growth the way it is and I believe will continue to negatively impact.
I think people should be "positioning into investments" which means purchasing or selling stock over periods of time where one has cash to buy at prices where greatest ROI and risk:reward is in their favour.
When some one is overweight Score in their portfolio like I was, I believe they need to adjust accordingly when necessary, and no better time than when you're up 50% in a couple months time! My remaining shares in my TFSA are at an average of about $0.63 so its currently in RED but I dont care cause that position for me is a LONG TERM INVESTMENT I will be holding for 3-4 years or until Score gets bought out... not sure other so called longs here can say the same. Many of the "penny flippers" here are buying/selling their entire positions in Score and for me that is a mistake as Score has proven that it can take off at a moments notice regardless of the technicals! There is a portion of your investment portfolio I feel should ALWAYS be invested in Score and what I currently hold is an amount Im comfortable with so I dont give a $hit if the price drops a penny or two like you do!
Papi: Perhaps your trying to get in cheaper Tsk Tsk
I'm NOT going to reply with how I really felt and what I wanted to say second I read this last comment as you do not know me personally off the boards.
For the record; I would never try to manipulate a stocks price to buy in lower as that would involve some one else losing money and I dont want to see anyone here lose any of their hard earned money... in fact its quit the opposite!
I want to see everyone WINNING so if it means telling the board I think its a good time to take some profit off the table so be it!
Personally I believe cheerleaders can be just as harmful to this board when it comes to an individual making a sound investment decision than a bear bashing the stock hoping the price drops cause he is short.
I'm just trying to be as objective as I can, sharing what I see and believe; and right now I believe the stock will trade some what sideways in the $0.50-$0.60 range so the funds I was holding in my "trading account" I believe are better allocated elsewhere!
Y'ALL DO YOUR OWN DUE DILIGENCE AND DONT EVER MAKE THE DECISION TO BUY OR SELL FOR THAT MATTER BECAUSE OF WHAT SOME ONE ON THIS BOARD BELIEVES- we are all here as a "collective" to allow individuals to make a more informed decision.
I am not here to advise anyone what to do, I simply share what I, myself am doing with my own shares!!!