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Trading IMI: It looks as a dead dog but...

Discussion in 'Shares' started by wdongli, 9th Mar, 2011.

  1. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    If I have to say which dirty-cheap fish I picked since October 2010, it was IMI in hindsight, but I don't feel sorry since I followed my rules and guideline to pick it up. It could be a black horse in racing but needs more time to let the market know it. Who really knows if all of people could change minds in a few days or weeks to convince its death?

    I got it when all of the people around it were in extremely panic. The people ruthlessly sold it from $0.004 until they could not sell, $0.001, where I got what I wanted then. I would not sell IMI to stop the loss. Why? All of people around it have claimed and locked their loss into their financial statement or balance sheet. What could it be worse than now? Just close the door but if you have lost 99% of your capital is it worth to stop loss of a few more of $100 or $1000? If you want to sell you should sell much higher and you should stop the loss long time ago.

    Today I just saw a sign of good black swans around it at my buying price not at the price of October 2007. It announced while it was still in suspension new director assignment has been given. I am surprised by the share volume of this director but fully understand. It looks the biggest share holders have taken the control and try to use IMI shell to make their goose to lay the eggs. It is a fantastic way to go into the list of the stock market. I would think it again and again in case someday I could copy what the new big owners to list their investment into the market. It looks much cheaper to get some investment bankers to put your companies into the market!

    Now I do hope this new big owner would work hard for him/her money and then for my money; do hope they could be successful to get their money into the living of the stock market. Good luck to him or her! Good luck to IMI! If it is not the falling knife to me, it means he or she has to do the right things in the future. If I am a loser to play IMI nearly all of the people around it would be losers. I like this reality very much!