Guys sorry to say this and I know it's hard but I have been here many times before and what I'm seeing now is capitulation. I, just like many of you have been in denial and been burnt accordingly. As 'Goldman Sucks' calls us "muppets", the days of honest investing died many years ago and I hate to say it's all the crooks that are running the show, and playing according to their rules, forget regulation and rules- they just circumvent them.
I remember many years ago buying Telstra the day before Mr Trujillo’s number 2 crony saying that he wouldn't recommend the shares to his mum, only to watch my investment plummet the next day. In a real world these guys should be charged- but alas, I should have learnt my lesson then. These guys are not out there for the share holders and to build value but to line their pockets in cohorts with the banks as quick as they can before the next cycle starts in several years time.
According to the Fibonacci rule next stop should be 7 cents, and if it still breathes then 4 cents and that’s it. This is a smoking house with no chimney, you don’t stand debating whether it's got a chimney or not, you call the fire brigade. The banks 'ANZ' can see a wounded animal and they smell blood, that's their business screw you when you’re down and skim you when you’re up!
Friend’s shares are a road to financial ruin and not prosperity. Good luck everyone, Peace Out!
KZL Price at posting:
10.5¢ Sentiment: Sell Disclosure: Not Held
