First I would like say "Hello" to everybody on this forum. I've been hanging around for about two months and truly appreciate all of your thoughts, comments and predictions.
I bought into Sage at 0.55 and over the last six days, I've seen my portfolio (of Sage and other stocks) drop 50%. Not a nice first experience, but nevertheless, I'm still very optimistic about my investing strategy.
There are several comments I'd like to make at this time based on the current discussions in this forum.
Tomorrow I think we are going to continue on a down side. We (the Canadian economy) is being dragged down by the sub-prime fiasco and the potential US recession (shhh, don't use that word!). If (or should I say when) this happens, we can expect to see the market free fall and run for Gold. This of course should be good for junior mining companies if they publish good news releases. So the question becomes, how far will Sage drop before it steadies, carries a period of building investor confidence and sees an up swing in share price. This week I believe will be crucial to the intermediate term of Canada's stock market. We have already lost over 1000 points in the last five days. Any significant drop in tomorrow's US market will inevitably drag us along and we can see Sage drop another 30 to 50% this week. For short term investors this is a nightmare come true, for mid-term to long-term, this is a great time to accumulate. I am of the latter position.
There seems to be a lot of comments on poor management and how they could (or should) have done things differently. As I have already stated, I'm new to this game and wonder why that is. Let us not forget why we are here. And that is to make money. For those who seem to think they can run this company better, why don't you pull your investment out (if indeed you have a position) and start up your own exploration company. From doing my own DD, I see the management under pressure to bring value to the share holders and they don't always have good news to communicate. Having run my own software company for 14 years I can attest to this.
Overall, I see Sage as a good investment with great up-swing. Given the current market, I no longer see it as a short term investment but rather, a mid to long term investment (6 to 18 months).
I wish you all the best and think that this week will set the stage for the next 6 months.
Cheers!
