I bought into Noront in October 2007 and did not sell a share till March 2009, 18 whole months of being all in and being paralyzed!! I was paralyzed by the fear of missing the big spike, the big lift off, the big...well you get my drift.
I, as much as anyone fell in love hard with this company and still am in love. However, unlike my marriage, I have cheated on my love, Noront on many occasions since March 2009. Most of those times straying from Noront was profitable but always uneasy as I kept up with Noront and I was worried about missing the big one. However, it helped me realize that there are many other opportunities out there.
The best advice I could give to those that are still paralyzed by spikemissinphobia is to read about other companies and do due diligence on other companies. Get to know other companies, stray away from this board. Read some MD&A of other companies. One of the things it will do is comfirm how special Noront is and why we love this stock. However, the other thing is the next time Noront has a run, you may say, OK, I will sell Noront, maybe it is 500 shares, maybe 1000 maybe 5 or 10 thousand but I would start with small steps. Sell what you are comfortable with and invest in something else that you like. If Noront keeps going up, great, you still have a huge position in this great company. But, you will have taken your first step to recovery as a NOT-aholic as Sum4all would say. If Noront goes down, you now have something to sell to take advantage of the market-instead of the market taking advantage of you.
With Noront and Agoracom we have learned so much about the stock market and met some truly wonderful people on this board. Take advantage of this knowledge and these great people, most of whom will go out of there way to help you if you only ask. I am back to being very heavily invested in Noront as our value is indeniable at this ridiculous price.
We are going thru a gut wrenching time again and this is the markets at its best form of FEAR. Remember these famous sentences:
Learn to be greedy when there is fear in the market!
Learn to be fearful when there is greed in the market!
We are at a scary time right now...our instinct is to preserve capital and sell, sell and sell. However, this is the time to buy, buy and buy!
Why has our SP broken down, I mean really broken down. Have all the speculative plays experienced this huge downturn like in the Fall of 2008 when the TSX-V went from 2500 to under 800 points? Nope! The markets have seen some pretty wild girations lately but nothing that points to an imminent collapse of the stock markets world wide due to huge deleveraging of hedge funds and margin calls. So I believe this is just a great buying opportunity.
I am hearing that the FN negotiations are going well and that we will have a resolution sooner than later. This is one of the fear factors that have brough us down this low, to a way oversold situation. What do you think happens to our share price when the NR comes out that Noront and FN have an agreement in place. We will probably see a spike of 50 cents IMO-unless this Genuity client is still unloading!!
I have to admit that I am starting to have some pretty negative feelings towards Genuity now that I am loaded back up. However, I could not of loaded back up so cheaply if it was not for them.
I believe that by the end of this month, we will all be smiling again and some of us will be upset that we did not pick up more shares at these ridiculous prices.
Enjoy the weekend everyone and maybe set aside some time to figure out how you will conquer spikemissinaphobia!
Glorieux
