One of my largest holdings, GIMO, is having its face punched in today. I much rather not talk about it, in favor of a little chinwagging about the prospects of the dry bulk shippers. However, in an effort to publicly disgorge myself, I think it’s only fair to mention the evils that plague me each and every December.
Last year, around this time, I was beaten like a red headed step child in DECK. I ended up selling the stock, in true cowardly fashion, in the $30′s. Look at her now, in all of her beautiful furry fashion! Today I am being mocked in GIMO.
Now, there isn’t any news, per se. There was an initiation of coverage, and a price target of $28, affixed by some boiler room in NYC. There’s also the expiration of the lock-up period happening today, which lends to the overarching bearish feeling in the stock. But the truth is a little more simplistic.
Let me explain.
The bombastic decline in GIMO, the unexplained and mysterious 9% drubbing in the stock, has occurred because Devils are chasing me, attempting to extract my life force, and by extension, destroy iBankCoin. There isn’t any other rational explanation as to why this is happening today, following my ALJ debacle and subsequent set back in RBCN.
All in all, I am down 13% in GIMO and should be selling it right now. Truth be told, I had limit orders in to sell my entire position yesterday, but never got hit.
HOWEVER, you know, as well as I, the moment I sell the stock will mark the exact and precise bottom–as was the case with ALJ.
Therefore, I am putting you on notice, that I have initiated a brazenly irrational approach to dealing with this fresh setback and cannot be trusted upon for cogent, well though out, considerate advice.