The other worst mistake anyone can make is to get overly excited and post a dozen times on the RYG, STT, DTT, XSO threads, trying to convince everyone that the acquisition is the ant's pants and that it's going to the Moon. The truth is, none of us will know for sure how good the business is and whether it has legs in both the short and long term. But there'll be plenty who post as if they do know and if it's a tech project, start making comparisons to companies like Google, Intel and all manner of irrelevant marketing that make the story sound too good to miss out on. Ignore all these posts and instead, be 100% prepared by Sunday night, with a plan for how you're going to trade it, based on price action, e.g.
- take the full stag on open if it gaps-up
- sell half if it gaps-up
- Hold tight, even if it goes red at some stage
- identify it as a great project (knowing there's a chance you could be wrong) and hold LT
RYG Price at posting:
1.1¢ Sentiment: None Disclosure: Held
