Thanks F01, and I should apologise to you and others for the inherent mistrust I portray when new posters with no position pop up suddenly on stocks that have been crushed by the market, its not personal at all, its just that I accept that manipulation of the ASX is part of investing, and websites like HC are a manipulators playground. Posters give a lot of free content away on HC, some awesome, some destructive, but I always look for the motivation behind it before I give it any weight.
I am a conviction investor, I don't set stop losses, if I buy a stock like you did at 20 cents, and nothing fundamental changes and it drops to 10 cents, I buy more all the way down. My rationale is that if it was worth buying at 20 cents, then based on the same fundamentals of course, it is definitely worth buying more at 10 cents. Averaging down, provided fundamentals remain intact, is actually not the path to wealth destruction many consider. Averaging down when fundamentals weaken, is a recipe for disaster though.
CAJ, unfortunately, is a shorters dream because the SP is so easy to manipulate on volumes traded, and the uncertainty of the Medicare review combined with taking on debt to grow at probably the worst possible time (in hindsight) leaves retailers very raw to sentiment and SP fluctuations. The whole line wiping of 1m plus shares daily adds to that hysteria and the weak hands are folding. The retailers buying low are probably using tight and trailing stop losses, something that the line wiping thrives upon to suck them into selling.
Anyway, I again apologise if you felt I was coming after you personally, its just the last poster that popped up with similar history to yours he was telling us the company was overvalued based on what the clinics look like.
CAJ Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
(20min delay)