Now that's just showing off ! haha
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Now that's just showing off ! haha
Moosie, I know them very well as I did business with them over a 10-12 year period & the same people are still there. They haven't always performed as a team as well as you would like & they struggled for years with an under water hedge book & then were one of the last to close out their hedging as well, so it cost them a bomb. They did do a share buy back & now they are looking to borrow money for a mine development, so they don't always have the best foresight either. In saying all that, they have operated some pretty difficult mines & also built quite a few in Africa & Australia successfully so they have a reasonable track record in that. What I like about them now is their production profile is growing, they have plenty of reserves & they seem to be doing things better generally as aren't distracted by things like the hedge book. They are also straight shooters. Greg Fitzgerald the CFO is as straight as they come & a very nice guy to boot. I only got out of them today as I think the POG will pull back, otherwise I would have hung on. I could be wrong but I was happy with the profit I made. I will look to re-enter at some point though. Hope it helps. Cheers Daytr
Hi Clip, yes got in thanks... we shall see how the trend plays out. Happy to hold a bit longer term.
Geez getting real sick of watching PGI move to 5c 25%+ while SOC looks like a dog with no love and moves to the downside ...Gutted :( back that up with my move into CFE doing the same will ROC increases......
Yep it is a bit disheartening heh. the next PMR results can't come soon enough!
Looking at the chart, it made a big jump a few days ago from 3.8c to 4.6c and so it's not surprising the momentum is still upward. Another big jump today (but not quite as big) to 5.1c. I had an offer at 5.3c but have now shifted it upward in anticipation of a third and final jump (I'm guessing about another 8%) to somewhere closer to 6c.
Meanwhile, I have a cheeky bid on SOC at its previous support level of 11c to top up as the seller dumps what remains of his order...probably next week IMO.
Trading to it.
Yeah it is have had some really great trades i the past my 1.28 TRY buy $5 sell one of my best as I sold at it's peak ...IRN highs 20's sold over $1 ....etc heaps of others but those two stick in head as I got out at the right time have a list as long as my arm on shares sold too early....just going off my Etrade history I'm nearing one thousand trades......
does get disheartening in a run of bad trades
Knowing when to buy is a lot easier than knowing when to sell. I also tend to sell too early, and so now I sit on my hands when I see a spike.
It doesn't always work. Some stocks regularly spike and then fall away dramatically (e.g. RXL.asx, BLT.nzx, CDY.asx, etc). Chart patterns are important since they indicate patterns that are often repeated.
See the thread on selling strategies:
http://www.sharetrader.co.nz/showthr...ing+strategies
Hadn't read/seen that, cheers BC looking forward to having time to get stuck into it
Guys, I have sold a few too & some far too early as well & yep agree SOC is frustrating particularly when others are doing so well. However a profitable trade, especially when you are talking 20-30% is not a bad trade, perhaps it just could have been better. Watching a stock rally & get to a level where you are happy with the result & getting out is a good trade & a disciplined trade. Sitting on it getting greedy & watching it fall back isn't. Don't get me wrong sometimes that is the right thing to do, as other factors like the POG etc come into it. Anyway not here to teach you guys to suck lemons. I knew a Geo/Company maker in Perth who has made some of the best discoveries in recent years in Oz & an absolute legend in the industry. Worth a bomb & drives a rusty old Toyota & usually has egg stains on his 1970s style clothes. He told me, always leave something on the table for the other guy & he's right, but I think I have been taking that a little too far recently!
BC RSG should have a good spike again Monday! Well done mate.