Back late 2002 SBAC traded down to .19 cents. I bought in at .45 cents. Soon after it was at $4 and I put a stop order in at $3.25. Next day after market close I looked and couldn't believe my eyes. During a normal bullish market the MM opened the stock at $4.00 then tanked it all the way down to $3.25 stopped me out of my 25K shares and worked it all the way back to close it green at $4.05. I learned something the hard way that day. Now SBAC is at $66 and has barely pulled back few % and just bounced off its 50 dma as the broad market has pretty good the last 9 weeks.
Interesting story and I felt it should have been illegal what happened.
Anyhow, now SBAC up some 6000% since then and acting like its going to $80 and we all know what happens if it gets there. $80 is another term used for $120.
Now, if you are interested what I'm playing now, I'm buying this S&P dip as 1550 may be here sooner than many think and my favorite is China and a little small cap Lihua International "LIWA". Buy Chinese and be really happy kinda like SBAC did 10 years ago. Do your own DD but talk about extremely strong and getting stronger fundamentals and Robust Growth, next fav would be LPH and someone keeps telling me TSTC but not buying into that one like LIWA. I know there was a lot of bad apples that spoiled the china bunch so to speak but there is just as many frauds in the US and some of these remaining US listed chinese compamies are 5-7 times undervalued after all fraud scare and warnings.
I will never for get this SBAC and hope to be saying the same thing with LIWA in a few years too.
11/17/99: My one time buy of SBAC @11.50
3/8/00: I sold slightly more than 15% of my position @ 51.25
Held remaining shares into sub dollar range
10/15/10: I sold 21% of my original position @ 40.23
5/2/11: I sold another 21% of my original position @ 38.28
Present: I hold approx. 42% of my original position.
It's been a wild ride, but from point A to point B, the returns not too bad!
Position is in my ROTH.