seven lessons learnt, page-44

I am glad PP and other "negative" commentators are here, and I think they should be encouraged. It seems to me that positive commentators are starting to build a rosy picture too quickly.

Before I sold most of my holding, I looked at the buy side of the Market Depth. It didn't look strong to me. Support at 12c, then nothing much below. Maybe that support was put there by NMDC or some others who want to see 12c held, rather than wanting to accumulate at 12c. I thought if 12c gets sold into, then look out below.

My main concern at the moment is that NMDC seem to be basically taking over. Firstly, I find this embarrassing - are we really that desperate? But more importantly, NMDC will do what suits NMDC, not LCY. We don't know the details or what they are thinking. I'm not going to create or believe any rosy picture in the absence of that knowledge.

Of course, it is reasonable to treat LCY as a worthwhile gamble among many. For example, I think wealth and power is waning in the America and Europe, and growing in the Asia, so we could be aligning with the power trend. Nevertheless, I wouldn't rely on LCY or NMDC. I'm hoping for a good future, but not expecting it. So I am not confident enough about what's happening to knock down "negative" commentators.