trading halt, page-76

When KGL's sp was on the way up from $1.30 to $1.40+ there were many posts that were over exuberant about how good the stock was. Some claiming it was the stock with the best prospects of any stock that they had seen in years!

But as the share price fell this enthusiasm dried up and became pessimism below the $1 mark.

Now with a diluted stock, and a 60c share price looming, there appears to be the inevitable, "who to blame for my losses", game going on.

There is only one person to blame for being stuck with KGL shares at a high average buy price, like I am. And this the purchaser of the shares!

Share trading in spec shares is a tough business. There are no second chances.

The basic rules are:
1. Err on the side of caution.
2. If a stock hits 10% or 20% below your average buy price have a very serious look at selling out. Most professionals do this automatically.
3. Never get emotionally involved with a stock.
4. Do your own research, be vary cautious about being swayed by the opinions of others.
5. Buy on good news, sell on bad news.
6. Always keep a good working capital, it is much easier to claw back a 20% loss than a 50% loss.

So I blame myself for my KGL position, no one else. I have seen this sp slide happen with many stocks, time and again and mostly I still get caught out. I have a friend who is $100 000 down on GDY, the sp is now 90% lower than he bought at!

And yes, the wife and others told me to sell at $1.30+. Not selling was a pretty dumb decision.

So I have to hang in there for a while until the sp rises to a reasonable level when I might consider getting out. Then I could claw back my losses on another stock. Of course if Andash gets the go ahead then the game changes again.

So it is of little use looking for scapegoats to blame. It takes less than a second to press the "sell" button. Over the years how many millions and millions of dollars would investors have saved if they had done just that!

I will try to be more vigilant in the future. But I certainly won't be blaming others for my shortcomings!