it is green, page-10

Hi Danube

funny to call you that - I was born on the banks of the 'blue Danube', well in a hospital near-by really;-))

I made the most basic mistake with this share one can make: I fell in love with it. I had traded it a number of times, made a little money and then decided to buy and stay invested.

Firstly, one of my reasons for buying in the first place is that I firmly believe the only way global warming is going to be checked will be by utilising the clean burning of Uranium fuels for our vast energy needs. BMN seemed to have it all: a large resource in a safe country, and the intention to become a producer in the short term, BEFORE everyone else got onto the band wagon, strangely though the fact that Clive Jones and Nathan McMahon are/were involved with Cazaly escaped my attention, otherwise my alarm bells would have gone off, and I would have done more research. But then you never know where you are with 'rock kickers' and you have to accept that your sharing company with and moneywith and parting money to people to whom normal standards don't apply, both in a negative and positive way.

Then I began reading the posts here and other share fora, did a thorough checking of BMN's anns, checked their website. I averaged down: my average buy price is now $2.15. Everything seemed o.k.: then the market began to turn.

I had one chance about 6 weeks ago (I think) when I could have sold my entire portfolio and made an 8% profit overall - this little voice kept telling me to DO IT! My logical response: "No,no, it will go up more and there will be more money to be made." Now I am 50% down overall and that percentage keeps changing.

Lesson 1:
Always listen to that niggly voice and keep your greed in check!! Learn to distinguish between reason and greed. Set a percentage at which you will part with your share, up or down. Stick to it.

Lesson 2:
Research, research and more research! In future, if I ever want to remain in a stock long-term, I will make it my business to get to know the people involved.

Lesson 3:
Stick to your own trading rules.
Now, I've still got some funds invested in other stocks which I will use to trade my way out of this hole, and it will be charting, stop losses and short-term trading, like you suggest in your post, Danube.

Lesson 4:
Don't buy shares because YOU BELIEVE something about it. Go strictly by technical indicators, charts, switch sectors along or ahead of the general public, read the market, not one share, etc. etc. LOTS OF WORK, OF COURSE!

As for my investment in BMN I still hope the fundamentals of which my reading convinced me will hold true in the long run, though this attitude is not dissimilar to playing poker or buying a lottery ticket; both of which activities I despise. Ho hum - so much for the high moral ground.

Good thing: I can laugh at myself for being so silly, and I count my blessings. My life hasn't changed, will not change, the sun still shines, and the rain rains etc. etc.
and I now also think that it is only a matter of time before BMN will recover somewhat, although it will be some time before it regains the dizzy heights of + $4.00.

Thanks for your earnest and well-meaning posts - I have misread you in the past for a down-ramper, but always realised that an alternative view is important.

Cheers

Taurisk