"I guess I'm thinking the damage has been done (60% this month) so there's not alot of point bailing now unless I believed that ALS was going to go under, which I don't."
But this particular seller, with inside information, was bailing now. ALS going under or not, he was willing to take $2.33 (Friday closed at the low). What do you make of that? Do you expect your valuation to be more accurate than the seller's inside information?
Please note I'm not suggesting you to sell. ALS is now close to $2 a potential resistance level, so there is a realistic chance of an imminent bounce (also not a suggestion to buy btw). But my intention is to discuss the logic behind our trading decisions.
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