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Luby's: Fool's Gold Or Jackpot ?

Let me say one thing. I have become a prisoner of Luby's (NYSE:LUB) for the past three years (at an average cost basis of $6.50) and I am seriously thinking about tunneling under the walls for a Shawshank style escape (less the sewage). I have already been forced out of 20,000 shares near the $3.80 mark, due to a untimely margin call, but what the heck-timing is everything in the market, and lately my timing has been downright miserable.

The main reason I don't attempt to escape is, I absolutely loathe booking losses. It is a psychological thing, which in a sense admits defeat. The other reason, which is right up there, with the first, is the fear that the timing would be horrific, and the very next day, LUB would be involved in some sort of "Merger and Acquisition" scenario, which immediately tacks on 50% to its price. That would be too hard to take, so I am sticking around a bit longer, in hopes of a miracle and my chances of diving into literal a pot of gold...


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