I suspect that those sheep that "buy high", are the same investors with stop losses that will drop the stock when they announce the actual delay and cost of the over run. Notice the scarey silence from the company - a company with a history of getting good news out quick and sitting on bad news! The longer they take to announce the more worried I become. All stocks rally and all decline. This stock is still actually downtrending! There is no certainty to the view that it has bottomed.
I was here when CMR rallied from 4.10 to 5.50 less than two months ago. You were all singing the same tune then, as was I.
The shorters were nuts, the downrampers were covering a huge short position and about to be burned! Go back and read your posts! Truth is, they were right and we were wrong!
You believe what you want to believe - as we all do.
Time to buy is when the uncertainty is removed. Any buying before then is punting!
If this is the holy grail, and a $20-40 stock. I dont give a toss if I buy it at $3.4 or $6. And lets face it, none of you think it will peak at $6. If you think those that paid 4.10 are "buying high", why arent you selling?
The only indication that the stock has bottomed is the fact that management issued themselves 200,000 options at 3.69 this week. But truth be told, they have no idea either. GT got about 7 million options or something like that at 5.05 6 weeks ago. Remember the cries of outrage because they were already "in-the-money"! They ain't anymore!
CMR Price at posting:
0.0¢ Sentiment: None Disclosure: Held