'But alas and to their own detriment, some folk are simply not able to take advantage of a fantastic profit when they see one (as well as protecting their capital), even when its provided to them in the space of only a few days!
No, they're too caught up in the lust of massive riches that FAR may one day bring and where the reasons to 'hang on' are so well promoted on this forum.'
'This type of love affair with any stock is VERY dangerous IMO, as it causes victims to ignore the warning signs when the SP has moved too far too fast for no apparent reason.'
'But the reality is that POO is still struggling to stay above it's recent lows in the 50s and could be heading lower. Not saying that it will, but it could.'
There it is folks, in black and white. These are a few of the 'warning' quotes I made a couple of weeks ago to balance some of the hype that this headline created. If you're a long term investor you can of course choose to ignore but I'm confident those who were predicting 10c-90c will soon be wishing they had taken some coin off the table at 9c+ when they had the chance.
For those who did I say to you well done, as you will now likely be able to buy back again at a substantially lower price over the coming days IMO. See article below and note that POO is trading at US$48.15 as I write.
GLTA.
Dow Plunges As Oil Dips Below $50, Sinking Energy Stocks
Associated Press
Monday January 5, 2015 12:49 PM
NEW YORK (AP) — Another plunge in the price of oil is driving stocks sharply lower in afternoon trading.
Energy stocks slumped as the price of crude briefly dipped below $50 a barrel. (currently US$48.15)
The Dow was down 295 points, or 1.7 percent, to 17,539 as of 12:43 a.m. Eastern time. It was down as much as 315 earlier.
The Standard & Poor's 500 index fell 33 points, or 1.6 percent, to 2,024. The Nasdaq composite fell 56 points, or 1.2 percent, to 4,671.
Energy companies had the worst declines in the S & P 500 index. Denbury Resources and Noble Energy each lost 9 percent.
The euro sank to a nine-year low as traders worried about whether Greece will stay in Europe's currency union.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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