Original post date: August 8th 2008
Removed copyright content and reposted
On March GameChangers was writing about Nokia: This GameChanger will continue to dominate its market.
GameChangers bought NOK on March 3rd at $35.70.
Now, while NOK is trading around$26-$27 GameChangers 's suggesting a buy limit of $32.00.
In June's issue of his newsletter, GameChangers wrote:
Buy NOK under $32.[REMOVED].
My humble opinion is that Nokia will not bring huge profits to investors for several reasons:
- With Blackberry and iPhone I see it very hard for NOK to dominate the market
- Cell phones are everywhere today. They are a commodity like business and, according to Warren Buffett, commodities are never a good investment.
- I owned some 5 or 6 Nokia phone up to now and I will NEVER get one anymore.
GameChangers entry point (the red dot) was not very good. For now it does not seem like NOK will go to GameChangers ' target of at least $50 very soon, but GameChangers said mid-2009.
My only point is: on March 3rd there were no technical sign to buy. If GameChangers had been more patient he would have avoided a 24% loss up to now.
UPDATE ON OCTOBER 3rd 2008
NOK closed at $17.75 (-50%).
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