Post by
chromy on Jan 22, 2011 4:26pm
A mea culpa, with a silver lining
I don't think anyone can blame me for my vitriolic outburst. After all, I had bragged that I had added 34k on Friday after another addition of 35k just a week earlier. A big mea culpa is in order. The silver lining I find is in the fact that it's not uncommon for companies to seek the regulatory OK for the right to do a reverse split, but what that means is such that action may never take place. And here's where I agree with CrashSurvivor and Blackgold, albeit reluctantly. As Crash pointed out, this may be a threatening weapon to discourage and indeed exorcise the MF and such scalpers from the Company, in the sense that at its discrepancy, the Company may exercise its (then) legal right to use the consolidation artillery. I think I'll step back a little and mull things over the rest of the weekend. Selling in the panick that is sure to manifest Monday morning would be suicidal and a guaranteed huge loss. So for that reason I hope to keep my cool and my powder dry, knowing that my loss could be much larger if I wait. But hey, that's the name of the game. One thing is for sure, bad news always comes well after Friday closing. One thing I know for sure: if I'm still a shareholder when a consolidation is declared, I'd sell at any loss before it happens!!!
Comment by
Rambo007 on Jan 22, 2011 5:41pm
Bad news is usually anounced on Fridays at Least CDO scored one point on this one
Comment by
Rambo007 on Jan 22, 2011 5:45pm
Once Mineral field is in the game gets dirty......If lots of sellers with no buyers...This will not be a nice outcomeWe will see how much the new investors are interested nowGood luck all