I think that it is understandable that a lot of people have given up faith with SIP. I have many times thought to myself why i chose SIP when everything else is going through the roof whereas SIP seems to love going through the floor :p. I bought in a long time ago and i was in the green for one day and since then, losses up to my ears. It actually makes me laugh thinking about it which for me, means that i am slowly being able to remove the emotion out of trading (but its still a work in progress but mostly thanks to putting up with SIP's unique trading patterns and the company's crappy shareholder relationship). As much as i hated seeing a loss, i have taken this opportunity to average down all my positions concerning SIP because i think that over the next month or two, that it is going to move. I for some reason do not think that SIP as a company is going to improve dramatically after this sale has gone through. I think that there is going to be restructuring, more money in the kitty and some given to the shareholders. I think that once this has all been completed, the company is going to continue its usually way of leaving us in the dark and only giving us scraps to eat if we're lucky. We have switched the head of the company but i think that the body is still rotten to some degree. But, i feel that SIP still has time to shine especially on a short term time frame. I am going to be using this opportunity to free myself from this company once and for all but i must admit that i had hoped to leave it during a time of riches and glory. I think that the sp is going to play out such that once the sale is processed the sp will go up and trade sideways but if they are to announce a special dividends of 15-20 cent per share in a month or more, i cannot see why all those short term traders are going to push the sp through the roof. That will be when i will be looking to exit because once the payment has been done, the sp is only going to crumble all the way have to the current sp, if not lower......
My intention is not to down ramp SIP but i was curious to see others opinions concerning my position... I look forward to reading your comments and just remember that i have been holding SIP for nearly two years so please dont consider me as a short term trader looking to make a few bucks. I once believed in this company and still do in a short term perspective as stated previously....
Good luck trading,
GC >..<
SIP Price at posting:
45.0¢ Sentiment: ST Buy Disclosure: Held