I am not so sure about your 'profit taking' angle, because as you say, 'low volume' purchases, but no doubt it will dip, as it would be extraordinary for a stock to go up in a straight line.
I note you are new to the stock, so not really up to date on the history yet. Though I guess you know charting, which I have no idea about, but I have observed that charting is only one aspect of measuring how a stock may perform, and even more challenging on the spec end of the market.
As of today, some long term holders have made it back to their average purchase price, and others are still waiting to get there, though I guess, not that far to go for most.
They stuck with the stock, as I did with a 65% drop in value, but I am still here and nearly breakeven, and not about to sell for many reasons. I made another purchase on the way down to average my initial loss lower. Not always a wise move, but it depends on the fundamentals and your research.
If I didn't believe in the stock fundamentals, and understood the change in strategy, I would have sold for a huge loss months ago. I guess some may sell now, as they are at break even, but by any measure it isn't profit taking, so I doubt it will cause a crash, or major decline, in the SP.
I have stuck it out so far, so why would I sell now to just break even, and with no profit? I think you may have under estimated the holders of this stock and how it works. I have actually learnt quite a bit about trusting my own research and staying with it.
I can't account for day traders, though I would guess they aren't over this stock again as of yet, but could be, so will no doubt see some games played again. Hard to say, as I guess they got burned the last time so may leave us alone. Just wishful thinking really, but will see.
Yes it may dip, as all stocks do, but no where near you think.
If you want in, I suggest you think about it now before the price is higher as we get closer to the auction date. The volume will be lower, as those that have held carrying a significant loss for so long won't sell now, as we are too close to a possible return.
Naturally, just my opinion and odd thoughts, so up to you what you do.
Cheers
gsmaree
MUS Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
