A lesson learned

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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yangzhh

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A lesson learned

posted on Feb 26, 2010 12:24PM

A lesson learned from NOT is DO NOT FALL IN LOVE WITH A STOCK.

I got involved before ROF at $0.61. What I wished for was just $1. Seriously. Then I went through the super excitement from $0.295 to $7.05 in just two months and also bought a whack of shares along the way. I got overwhelmed by all kinds of "goodies" and started to dream about becoming a millionaire by 2008. You all know the story in 2008. I believed NOT could turn around in no time with its treasure and kept buying from $5 to as low as $0.60 (yes 0.60 again) till I exausted my resources just to keep my average down. By end of 2008, NOT was the only stock I owned. I realized I fell in love with NOT but it's too late. I lost over 70% on paper at one point! After some peaks and valleys in 2009, I finally decided to break up with it and roll back to my original trading rule - eggs in different baskets. I sold out NOT at 10% profit and bought a bunch of other stocks. Since then I've made 30% profit and NOT has again lost over 30% of it value.

Looking back the several years with NOT, I don't think my trading skill has completely gone wrong. Rather I attempted to ignore what I'm good at but to believe something that actaully didn't exist yet. I'm not saying NOT won't prove itself. I believe it will eventually. But a stock is a stock. It has to follow its own lifecycle. That's where we can benefit from.

I'm not bashing here at all. Don't try to fight the trend is what I'm trying to lay out. We are not MMs so not able to tell what's going to happen tomorrow. There are tons of other good stocks out there as well. Do some homework, you'll feel less frustrated.