I preach patience everyday. I’ve been trying to master the art of patience for years, and sometimes I just forget to follow my own rules. Take for example OPTT. Kunal told me about the stock when the technicals showed a base, and I immediately started accumulating after a bit of research..
I was accumulating OPTT in the low to mid 4’s. I sold all my trading shares in a mad rush in the mid 4’s a few weeks ago. Although I did hold a long term position.
I *knew* this stock was undervalued, the company had big potential and it was sitting at the bottom. I could have made three times as much on the stock had I not sold those stupid shares, not to mention I sold all my long term position in the 6’s. My own rules for “long term” were completely destroyed by my own excitement.
I felt a little sick when I saw the stock beating the shit out of the bears in the 8’s. Either way I made roughly $26,000 on this play.
Anyways, I go back to my original rule of investing in undervalued plays. Patience patience patience. I personally believe that NEP and SYNM will have their day, and those days will be spectacular. That doesn’t mean I’m going to dump NEP at $6, or SYNM at $4. No chance.. not this time, I’m holding out for the big score.
Of course I am still holding a number of other longs which I also expect huge pay days from. BEST is probably one of my favorites for the moment. If you thought we played RINO and TRIT well, you best look at BEST. Water is important in China, but so is food safety – and it’s becoming such a major issue that the Chinese Government is getting involved and granting money. BEST will likely sign a deal with a major company like Tyson Foods one day.. At least I hope so.
…back to the topic at hand, there’s nothing wrong with taking profits… until you realize what a loser you are for selling way less than you could have. That’s about how I feel right now, but don’t feel sorry for me… I realize what I have and what I don’t, and I thank God everyday for both. 🙂