a new year a new attitude., page-23

Incognito63

I feel for your losses on FAS, I really do... BUT do not blame FAS for your poor trading strategy. Before you scream "insensitivity!!" reflect on the fact that FAS has ALWAYS been a speculative play. The unwritten rules are that you only invest what you can afford to lose with such holdings, and then only have specs constitute 10% of your portfolio. Having said that, a $50k punt must mean that you have other funds available to rebalance your trading. Given that you could have bought 1000000 FAS for $5k not long ago there has been ample opportunity for you to not only recover your losses but to make a sizeable profit over the last few months. If you have not traded FAS for your benefit or you have been unable to trade then that is simply bad luck or bad judgement. Do not berate and blame the company for such shortcomings on your behalf.

Before you accuse me of being a Johnny-come-lately, I can assure you that I have been around for a long time.
I see very little difference in FAS when compared to the other hundreds of speculative stocks on the ASX, EXCEPT that FAS has massive upside potential if the SHIP (and SHIP north) goes in to production. Management performance, salaries and disclosure are all par for the course at this end of the market. The naysayers, whingers and doubters on the FAS threads could be referring to any of 3-400 small/micro caps struggling to survive since 2008. FAS is still here (unlike many similar companies which have fallen by the wayside in the last few years), has an ongoing finance deal that could prove to be a company maker and management is working hard to bring that deal to fruition.

The constant negativity on this forum from both holders and non-holders does nothing to further the efforts of the company. I would be pleased to hear how you think that the negativity helps - except to allow the poster to obtain shares at a lower price.

From your post I assume that you hold around 180,000 shares. There is still time for you to get a couple of million and reduce your 36c average down to current prices. The situation now is little different to how it was 7 years ago insomuch as FAS is still a speculative buy. So the same rules apply. The main difference now is that SHIP has mining approval, is JORC compliant, has a Native Title agreement, has an off-take agreement, has an irrevocable finance agreement and is one step away from securing the finance. If you think that all of the above is just lies then do not speculate any further. BUT do not sour others' speculative actions through stewing over losses that could have been mitigated many times over during the years that you have held. Take responsibility for you own actions. Sorry to be so blunt but I'm sure I reflect the thoughts of many seasoned traders on HC. If you can't stand the heat of the kitchen........

Cheers