I'm out (should have been out a week ago obviously). I've broken my own rule by selling into a very oversold market. Everyone is waiting for a bounce, which I believe will be sold into by inst. and traders and any gains will be fleeting near term. I also believe any good announcements will be sold into near term. If the 4500 XAO level doesn't hold, the market may be in for another primary downtrend as has already started in China and Hong Kong. I'm not prepared to have my capital tied up for another 3,6 of 12 months hoping for a return on my capital.
This is a market for traders at the moment, not buy and hold in my opinion. Yes HGO is undervalued, but that means little in a panicked market gripped by a sweeping downtrend. I'll be waiting for confirmation of a turnaround before wading in again (I tried the catching the "falling knife" experiment in the GFC and got hurt real bad).
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