that's a pleasure sailfish. I hope that it was somewhat beneficial.
What I have been noticing lately, not just in SPM but in many stocks are the levels people are actually prepared to sell down their stock. There must be many investors out there that are really hurting and doing it hard at the moment.
To be selling SPM down to these levels suggests it could very well be a distressed seller. I genuinely feel for him if that's the case.
Having spoken to past clients and associates recently involved in broking, they have been telling me of sad tales of people having to sell their portfolio of shares to basically pay their bills because they have lost their job or borrowed money to buy shares in better times. It can of course happen in the property sector just as easy. You buy in the high, suddenly interest rates go higher and you can't afford the repayments because you over extended yourself with money borrowed.
For those with money these are the times one can make a killing by being able to buy stocks at hugely discounted prices and then being able to wait for better days. And those better days will come, mark my words.
I watched how the 400,000 shares suddenly arrived at 4c in SPM ready to take advantage of someone elses misfortune.
This is not just restricted to SPM of course. There are countless of stocks out there right now that have dropped by up to 90% in the past couple of years for one reason or another. Many a very much undervalued.
The sharemarket can at times be quite brutal. This has definately been as bad as any I can remember in the small end of town.
SPM Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
