27k in the bank, page-4

Mikey, you bought the stock at 25c and bag it at 2c.
I bagged the stock at 32c and bought it at 2c.
imho 90% of small stocks on the ASX are run by scammers, so the key to wealth in any investment is "timming" and "knowledge". (please take the time to consider my meaning of those two words).

I have invested in companies that refuse to give the general shareholder any information or do any form of promotion, and deliberately let the stock fall in price for months on end.
Then all of a suddend they swallow a large percentage of the shares in a buy back or rights issue, and a few months later release wave after wave of good news.

Now I'm not saying this is the case with QTK, but I'm just going with my gut feeling on this one.
phycologically it is very difficult to re-enter a stock that you've been burned on, but I believe a successful investor must not waste years of research because of an emotional barrier (if you have invested time on researching the stock, make sure it works in you favor).

I really had a conflict with my emotions when buying this stock (because I saw it burn so many people), but I let the investor in me make the call and restricted the amount I was prepared to lose.

I see it like this (but it is only my opinion)

(1)QTK lost the China deal and stalled for time......the market sensed this and sold it down.

(2)Bell potter walked in with money (not for China) buy for South Africa (think about that for a while).

(3)QTK starved the market for any information and when they did make a release it was very short on financial information and almost deliberately flaky and poorly presented.

(4)Pallister has continued to pour money into the company, into what seems like a hopless situation.........but is it, and why would he? BB says he was trying to get his $2 million out, but I really don't think that was ever on the cards.

Now I could well be wrong, which is why I'm only risking $10K..........but imho QTK are going to drop a few bombs on the market.
So my advice to you is this...........don't buy any stock and keep bagging it all you like (it will have no impact if they release positive news). But just sit back and see how it pans out, either way it will make you a more experienced investor, and that's good!

Mikey, here is the bottom line.......If investing was easy there would be no rewards because every man and his dog would do it............it would be like selling ice creams on the beach.
But like any trade, once you learn the ropes and maybe lose a finger or two.......you get smarter, you get street smart, you learn to read between the lines.
You blame QTK for not getting the China deal, but what did their announcement say ? "up to $380 million" .........the key words being "up to".........but you and many others (including smuggler) focused on "$380 million".
And the rest is history.

Now, I don't blame you for being bitter because you have every right to be (along with many others).
But when it's all said and done and having the benefit of hindsite........the reality is QTK are now in a better position now then they ever have been.

I'd love to catch up for a few beers and make comparisons with you in regards to Looksmart.
They delivered bad news after bad news and offerd share holders ZERO incetive to hold their stock.....then they bought back $22 million worth of their own stock and later posted RECORD figures in quarterly revenue !

Mate, dont get mad with these companies, it's such a waste of energy.
Instead, learn to play the game and focus your energy and you'll really enjoy the game.
No one can pick the bottom or the top, but they can make informed decisions that should lead to success.
It would surprise me to see them get it back up to 10c (yes I'm serious) but that could take 12 months or so.

Regards, Tex.