Hi Jugi, When I posted that Head and Shoulders, it almost seemed to be an aberration I didn't really think it could eventuate (I think I said I was having trouble believing it at the time). However it did spook me and I nearly sold, but decided to hold and sell if 20c support was broken. Well that was a mistake in hindsight not much you can do about a suspension and reopen at who knows what price! Haven't made one correct call with NMS unfortunately, actually I have but I didn't act on it. I was going to sell them at 49c but didn't.
I know all to well the tech stock path unfortunately, through my experiences with INL and also ACE. The most ironic thing is I didn't learn my lesson with NMS the first time around. NMS I don't stand to lose that much on (a bit over 5K if it goes into liquidation). I'd been wanting to buy more but thankfully hadn't. INL is closer to 23K loss and ace around $8.5K, The really bizarre thing is I now can relate to the ERG tragics who kept on believing and kept on holding (and in a lot of cases averaging down), something as an outside observer I couldn't fathom how they could be so foolish.
My bad experience with INL, has at least had the effect of making me more cautious, and not investing in "promising" technology... two companies I would have liked to invest in, BLG and CFU I haven't for the exact reason that they follow the same path, and I'm very glad I didn't... maybe one day but certainly if I had have three years ago, I'd have regretted it.
So Why am I crapping on about this? Basically because this is something that happens to investors again and again, and we need to learn from it. The poing when they announced that forecast profits would be slashed, should have been the warning that everyone needed to act on, it is funny that it wasn't until the Annual report came out that the sp really took a dive. Whilst I think that it is true that information has not been as forthcoming as it should have been I had a more detailed read of the annual report and it actually sounds more dire than at first glance. The notes have more details and as they say the devil is in the details. Perhaps the ones selling were the ones who more carefully scrutinized the annual report.
On a side note NMS IMO ceased to be a tech stock when CL took over the reigns (at least once he started to build his empire). So NMS whilst it followed the typical promising tech stock rollercoaster before he came on board, it took on a whole new profile after. I'd have to dig them up but I'm pretty sure I posted (possibly not here) some pretty grave fears of the company turning bad due to the too agressive growth through auqisition strategy. Too bad I didn't choose to ditch them at that point, I guess I too got carried away with the "vision" as for a while it seemed to actually be working. All a mirage unfortunately.
Tony.
NMS Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
