@Golden Fleece - you do make some cogent points, but I must have misunderstood your post, as did @picastoc.
There are moralistic judgments one could make on people who 'play' the stock market, so if someone decides to keep their money in one stock, then it is to the advantage of a genuine company making a 'go' of becoming a producer.
Disclaimer: the following does not apply to LTR:
There are so many companies in the mining sector who, after a much heralded start then linger for years and years in the penny-stock range.
Every so often an announcement gets the investor 'blood' (speak 'money') flowing - the 'players' sell, more people buy in - the share price recedes and the game is on again. Very few companies who have been in that low range for many years ever make it as a flourishing miner, similar with some of the research (medical) companies. Which is not to say that some are not genuinely trying, researching, going out into the field etc. - I wish them and their investors all the luck in the world - because Lady Luck comes into it as well.
Reading through the day-trader thread, you realise it is just like betting on the horses. It needs more intelligence, sometimes sophisticated equipment (I remember visiting a frequent poster in the 2000s and his 'office' had 3 computer screens going and he was in there during trading hours, sometimes at midnight also to check overseas indices etc. - need I tell you that he didn't get ahead of all the other 'invetors' during the 2007-8 events and suffered big losses).
so, yes if I had bought into LTR at the low range, I would have been taking 'profits'. I did not, and intend to keep my small holding, because I believe these people are professionals, know they have a resource, and know they want to succeed. I may have more money in a few years, than I would now if I cashed in my investment. I 'believe' in what LTR are doing - they are professionals, which is not to say, that they wouldn't play a game should the opportunity for a profitable arrangement arise, but they are genuine company builders.
There are all kinds of reasons why people don't sell when they are in profit - one might be taxation reasons, because as soon as you show a profit the tax department asks for an advance on your next quarterly profit, assuming you are running a regular business, which is more predictable than the stock market. I have had this happen to me once, so I don't know how that continues. The services of a good accountant are a must, or else a superb accounting program, especially if day-trading.
I am still uncertain, if the activities of traders, especially day-traders are socially useful. It seems more like a parasitical activity at times, but who am I to make a judgment, when I also have a stake in the stock market and abide by the same rules/morals.
I remember a quote from the many books I read years ago: the small-time investor is just like a 'guppy swimming with sharks'
