It's just my opinion......so don't bite me.
posted on
Nov 11, 2011 09:19PM
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)
Ok, how many of you remember us reaching .90+ recently. Anyone remember a couple of years ago in the summer when NOT ran up to $3 and then back down? Anyone find themselves wishing that they had sold some but didn't? Anyone thinking that maybe, particularly after today's interesting finish, NOT's sp is going to dip for a while until news comes? Anyone thinking they could lose out if they sold any now? Anyone thinking about never riding something to the bottom again? Anyone thinking that they feel they're about to ride a stock down yet one more time when they said they'd never let it happen again? Anyone set a sell point and then not follow it? Anyone finding two voices in you, one saying yes the other saying but....? I'll bet some of these ring a bell for some of you?
Wes said that 2011 would be NOT's year but he didn't say that he'd tell us when we'd be able to recognize that turning point moment, just that what goodies were going to happen would be in 2011. So the wheeling and dealing happens then but we find out later? It's certainly within the realm of possibility that we might hear in the first quarter of 2012 which leaves a good chunk of time for the sp to shiver in the cold while we wait for assays....and we know how long assays take for NOT, along with the potential effects of tax season, or we could get news on Monday of this week. We just don't know. At any rate I looked at NOT's chart and thought about the likelyhood of retracement and figured that, notwithstanding a big news release, NOT will see some of that retracement. Consider that NOT has gone up over a hundred percent in the past weeks. What stock does that without retracing? I'll state that it isn't my intention to get people to sell, but to think about what it is that they wish to achieve. For me, personally, I sold a little today again and, as it turns out, the sp took a bit of a dip later. It wouldn't be to my advantage to have everybody selling on as I still have most of my shares of NOT and that would reduce their value. So, I sold some in the event that the sp goes down so I can add more shares of NOT when I buy back in and I then benefit from the drops but if it takes off on Monday then I'm still in for the run. This way I get to practice some capital protection and likewise some market exposure. It's a safety kind of a thing to do and a balance between greed taking over, along with the reality glitch that comes with it... but also a conservative direction. One thing for me is sure, at least for now anywho, I fully intend to never ride a stock back down that has so kindly brought me to profit from it. For those that say they bought too high and can't sell..... in the words of others more intelligent than I, "the market doesn't remember what you paid for it..."
I let a lot of money sift through my fingers with NOT and often held on for the above mentioned reasons. Consequently, holding as NOT continued to go down, I missed phenomenal opportunities as I watched them float by.
Now having written the above, if you are in profits with NOT and happy with that then you can let your profits run as they say, but keep an eye out and have an exit number handy.
The above post is for those that aren't really sure where they are going with NOT, who haven't really thought of a game plan. It's certainly not for the bred in the bone longs, but no matter which camp you come from, it's a dicey place out there so remember to protect your capital.