It is possible that LUM without positive news in the next week will drop to the price that it gapped up on the 7th July ’03 from $0.29 to $0.305. I don’t believe this will happen but it is definitely possible. If it does drop to $0.29 I would think that this would form the base value of LUM.
It is extremely disappointing to have so many potential contracts being drawn out as long as we have experienced, but business is business and any advertiser is obviously going to drag out any negotiation as long as possible, especially if they think they have their supplier in an awkward situation.
As I write this post I’m facing a paper loss of about $30,000, I have broken all my own rules of trading by falling in love with a good story, i.e. a stock. I blame nobody but myself for not exercising my stop loss. The main reason for not doing so is very obvious, as soon as you sell all the promised announcements arrive and the price has gapped up 100% within 2 minutes.
I’ve lost count how many times this has happened to me over the six years I’ve been trading.
Going against all logic I intend to hold my LUM shares, because I absolutely believe that the company will deliver all that they have promised. It may take a month or two, but they will deliver.
For those that have bailed out, I hope you get back in at a cheaper price and make a motza.
Cheers,
Fig Jam
LUM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
