How many of you bought into the fear? How many of you sold into the fear?
Its like watching the same movie over and over again when they run this stock to new lows. When I feel like I want to pull all my money out, stuff it in the mattress and buy a few more guns; I double down. It is the most un-natural feeling in the stock market, but days like this make me smile. GLTA!
I manned up and bought a chunk $2.66 yesterday, then sold it at 2.86 today.
I do think it gets to mid-low 2s before it finally turns (if it does turn).
I'm bag-holder status until $4 (well, $3.9 now) anyway.
I have considered actually doubling my long term position, but...as I said before, I don't honestly see this as undervalued right now.
I did the same and re-bought the chunk I sold at 2.76 today. I didn't want to miss on the continued run up the rest of the week. When GTAT has bottom in past months it usually is followed by 3-4 nice sized up days. Take a look at the charts, their are patterns.
That fools post this morning helped me with my attitude towards this company and stock. I've been buying the last two days every since this dropped below $2.8, and was wondering if I had really misplayed it here. The fools opinion, although just by one person, made a lot of good points that I had not appreciated fully.
First: GTAT is down because the solar industry is down not because this is a bad company nor a bad stock. Second, they have done the right things with the preferred sale and the diversification into LED and sapphire. Lastly they are a buyout candidate.
I was originally playing GTAT for a quick bounce from of the Q4 report selloff aided by short covering. Now, I'm playing this for a longer term hold. I firmly believe that this will hit the $3.50-$3.80 range before the next Q1 report and without any news. And since most news now would favor this comapny, it could go higher.
investing 101: never listen to anyone completely...just take bits and peices that make sense and leave all the emotional/subjective nonsense alone.
This board is full of people that bought wayyyy higher and are so under water that itll take a year or two to break even. However, theres such limited downside to this company that I just can't believe any of the short arguments I read on the board. For once I read a Motley Fool article that I thought made good points! If this went to 2 I'd liquidate all my positions and buy nothing but GTAT!