Thats all pie in the sky stuff mate, it would have been a very foolish (or at least crazy) investment throwing 200k into a spec stock at the height of the fear from COVID. At that stage, we had no idea what COVID was going to do. For all we knew, COVID could have wiped out half the population on earth. It is easy to look back at possible scenarios now that we know what COVID is and what its effect on the population and markets are, but at the time, I certainly had no idea. At that time I was down over 200k and certainly was not going to put more money into CXO. Now fast forward to today, and I have an entirely different problem......what the hell do I do now?
When I first started investing, my goal was to pay my house off. I did that a few weeks ago, selling a little under half my holdings in CXO. Now I have the problem of working out what I do with the rest of it (good problem to have no doubt), but I don't know how to quantify it at the minute. I find myself trying to work out what the SP is going to do and attempting to work out what I should sell and when and how much I should hold for the long term. As the SP has risen, I find that my expectations are growing but if I rewind to 12 months ago, I would have happily sold the lot at the current SP.
I think my strategy will be to sell portions at certain points as the price grows as my gains are already beyond my wildest expectations. The last thing I want to be is the person that talks about the millions I could have had, but because I got greedy, I ended up with only a fraction of it when what I have right now is plenty enough. I have no idea what is around the corner and whilst my read on markets is that we should have a pretty good 2021, I never saw COVID coming so I am forever cognisant that I am not the smartest person in the room and it is a good strategy to bank some winnings along the way (even if that means missing out on future potential).
The Stockmarket is an interesting game, it is a world of dreams and dungeons but until a sale is made it is largely a fantasy land. I found it very easy to get wrapped up in the realms of possibilities but I need to check myself because fantasy's are just that. Turning the fantasy into reality is the aim of game, and a bird in the hand is worth two in the bush. Whilst I don't want to be the greedy person that missed out, I also don't want to be the person that ignored fundamentals and sells to early. I have lost so much sleep over this stock, mainly because I was a long way under water for so long but now it is happening again because of the entirely opposite problem - what a game this is. There is definitely nothing in this life that comes for free.
I need to find the point when I am happy with what I have, but to be ok if the SP keeps going up. I genuinely think that CXO has got a long way to run and I am waiting on the annoucements over the next few weeks (hopefully this week coming) to help me quantify my future price targets. CXO is not your average developer/explorer (not many companies could genuinely say they are both across multiple minerals) with so many potential opportunities. Over the next few months with the announcements we have coming (assays for lithium and gold, Resource upgrade, DFS version 2, highly likely finance, FID and construction start), there will be so much excitement around this stock that I am literally having a heap of trouble trying to figure out what next. Mid 40's is my next mid term target, but I don't know what happens after that - hopefully we will get some guidance from the imminent announcements. What I cannot determine though is the market euphoria and its effect not the SP.
By the way, for the TA experts among us - do we think this is the 2nd or 3rd wave? GLTA
CXO Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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