Wow! After waiting for almost a month for the JV signing
since its disclosure, until now it is not signed. The disclosure said the signing
will be in a few days but it is almost a month already. I have learned that “within
the next few days” means it can take a month or so. Unbelievable! The respect I
have with the management has diminished. I think the “within the next few days”
statement put a dent on the credibility of the management.
I still believe that PHES is an asset play with its massive
land bank. However, my support of .63 was broken which was very critical to me.
For the nth time, this .63 price was not broken. The price of PHES did not go
below .63 except today which was very telling for me. As I have said in my previous blog, if .63 is broken it may go down to .2. Of course, nothing is absolute in stock market and I maybe wrong. Once I saw that .63 is broken, it’s time to
sell for me at a loss. I sold all my positions today.
I maybe wrong in selling PHES at the moment but I take
responsibility with my actions. I lost
16% of my investment because I believe that JV is coming soon with “within the
next few days” statement. Unfortunately, after almost a month it did not
came. We all know that this JV is the catalyst for PHES to go up if you are
following the story.
I have friends who have invested in PHES also upon my recommendation.
Although their loss may not be as big as mine, I take full responsibility on
that.
I will come back with PHES but this time I will be
prudent.
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