Don't worry, the high grade potash layers are down there, proven by drilling and will not be going anywhere.
This is not a oil&gas stock. No flow test required (which could end up with a little flow and 60% price drop in one minute), or potash can't melt down itself.
It is there, the asset is proven, needs more drilling for bigger asset size, and we are all waiting for the takeover.
The best thing to do is this IMO; -Sit back and relax, -Don't worry if market is going up or down, -Watch sp, enjoy your beer or wine, -Wait for takeover bid.
I know very interesting feelings are happening in peoples minds here. Some in over the clouds, some in panic, some is like drunken,..etc.
No.., no need to be in any kind of abnormal situation. Just be relaxed. What you've got is real, you are not dreaming. See, the top 20 people holding more than 60% of those shares. They are even not moving at all..!
Just an example of being panicked below, happened recently (this friend approved that I could write this story here)
One of my friends sold his 120.000 shares on the doom day of Japan earthquake on Monday. Every stock was loosing at least 10% that day. He asked me if I was going to sell some. I said "No... ELM has no relation with what is happening". But he sold them at $1.83 by panic.
Then one week later last Monday, unfortunately he had to buy them back at $2.18, and made $42.000 loss because of the panic. (he might be here, reading this post). He asked me before he bought at $2.18 if it would be wise to buy them back at that price, as he was in panic of "FOMO" (fair of missing out) again. I said "yes, I would buy if I were you. because you can see, it is going up. Why would I miss this profit".
Then I told him again; "that's why I am not selling anything just for trading, this is not a trading stock. it is dangerous, you can miss it out if you sell, but can't buy it back at the right time. Because the upside is so big, then you wouldn't never forgive yourself"
... Sit back and relax.
But think about the tax! (That's what I am working on atm) You'll pay a lot of tax if you don't hold it more than 12 months. If you hold more than 12 months, you'll pay the tax only for the half of profit, the other half will be exempt. Apparently, you bought it around Sept.2010. So you have another 5 months to go. Pray that takeover should happen after 5 months.
K2P Price at posting:
$2.47 Sentiment: Buy Disclosure: Held
