I don't post much, but you asked why people are selling. Well, I reckon there could be a few people out there like myself.
I sold 100,000 shares yesterday for 3.7c which I held for just over 12 months after buying them for 1.0c. I'm happy to take a 370% profit and buy some other iron ore stocks that I see as oversold and having potential to bounce back, such as ADY.
I've also already sold 357,000 PDY shares in July at 3.4c to break even from my buys in 2007, which were 1.9c-4.2c.
I still hold 543,000 PDY shares which, by pure arse (and on the advice of a chicken farmer) I picked up at 0.7c in May just before they ran. I'll be holding these until at least next May, both because I think they're a good punt, and also so I won't have to share as much profit with the taxman.
Cheers.
PDY Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
