Newing's timing is not wrong.
He is a long term holder. I remember him saying that this stock was worth 69c and at the time it seemed outrageously optimistic but very exciting none the less. Just like me, and many others, he has made a very tidy profit and, like many, has taken a small amount of that profit and left the rest on the table for more long term profit. He has made a paper loss in the last few months but he has made paper losses on PET before, many of them bigger than this one. He may be impatient and a little surprised at the chart, but he has not lost faith in the fundamentals. They have not changed, just gotten stronger and stronger
Newing is actually a chartist first and a fundamental investor second. If his commentary seems to be sounding a bit desperate it is the chartist in him. Has anyone ever seen a comment that is less than glowing (almost incredulous) as to where this company is headed in the medium to long term? No. He know's that this is a special case. He knows that the long term profitability of this company is beyond comprehension and hence he is holding this stock through thick and thin when the chartist in him would tell him to dump any other stock.
You know why he hasn't sold out? The same reason as me. YOU CAN NOT PICK THE BOTTOM!!!!! Nobody can, EVER. Some people are just deluded as to their level of genius. If I (or Newing) knew, beyond doubt, that this stock was going down to 75c I would have sold everything at $1.45 or higher and simply bought back twice as many shares now and I would be twice as rich. You would be incredibly stupid to hold this knowledge and not use it. But, as with EVERYBODY else in the market, we had no idea that it would not simply go down to $1.40 and then race straight back up to $3.00, so I held. There is only one way to gain hind sight and that is from the hind. Anybody who claims that they could have said otherwise (with anything more than 5% certainty) is an idiot and a liar. It is not possible to pick a top any more than it is possible to pick a bottom (other than the odd fluke. Someone has to be right some of the time). If I could do that I would now own the entire company and several others as well. In fact I would now be the richest man in the world bar none. I will have to be happy with my rocky, bumpy path to riches. Not saying that there is not money to be made in trading, I have done that in the past with other stocks, I'm just not letting this one get away.
Newing and I, and many others, have made a lot of money from this stock and plan to make a whole heap more by sticking with it until the fundamentals have changed which they most certainly have not.
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