I wonder if that's Grant filling his boats at $2.42 - $2.43?
No end to the selling so far. Darn those buybacks pushing the price down.
I wonder if that's Grant filling his boats at $2.42 - $2.43?
No end to the selling so far. Darn those buybacks pushing the price down.
looks like institutional volumes coming onto the market now. they better do a cash issue get the the debt down
It's hard to swim against an outgoing tide, especially since the smart money looks to be making a move.
Just check out what's happen to HLG this week with a large holder exiting at any cost, a 24c dividend doesn't help against a 40c drop in price.
Disc: Have been watching the price/volume action of both stocks and have reducing in sequence with the tide (I'm a reefie and just follow the current)
Looking extremely ugly, with this sort of anihilation of the SP divvies don't come into it at this point in time.PS-It would take me three and a half years worth of divvies to break even at this point.
Last night I started listening to “The Warren Buffet Way” again. Felt a little more at ease after watching my entire portfolio over the past 2 months, especially when I was in accumulate mode, all decisions I make is for the long term yet these market fluctuations gives me the heeby geebies in the stomach lol. HLG was one I accumulated quite a few of over the last 2 months and so was SUM, doesn’t look like a smart move today...oh well time will tell.
Should have listened to you mate ......you were joking about $2.00weren’t you? ...or just another guru callQuote:
Beagle
I can understand you rolling the dice at this level...odds don't look too shabby but probably best not to pretend its a one sided bet as quite a few people thought the same when the SP was higher. A downgrade could see this rapidly heading towards $2.00.
I feel your pain over the last 2 months, it hasn't been the best market for most ST members portfolios over that period.
I'm happy to hold a stock long term as long as the story (narrative) which convinced me to enter, stays in tack. If the stock's narrative chagings (and I can usually see this from the charts), then I must change my view as well.
I prefer to lose a bit of money and admin that (in this case) I was wrong, rather than sit through years of uncertainty (paper losses) waiting patiently to be proven right. The opportunity cost of bottom draw investing is too great (In my personal case).
Any share that is losing the holder capital and not replacing that loss with divies with a shrinking window of opportunity to turn the tide and recoup those losses in a timely manner ought not be for anyone.
I have bought back in purely as a speculative punt that the buy back will drive the SP above my entry price. As with all risk I have an exit strategy with a stop loss set. The stop loss allows time for a recovery.
Gotta admit my cunning plan is so far a failure.
Forget the reefies the Kingfish have moved in.Lol
divs will fall if sales decline too much ... too much debt to be otherwise