advice for a newbie

(Posting on behalf of a friend who is waiting for his to be approved)

Hey everyone,

I'm really new to shares, and I was looking to get some advice. I bought into CAZ this morning around $0.65 (on reflection probably not the wisest point to buy in), and I was wondering what you people would recommend I do at this stage. Obviously a drop from what I purchased them at is not yet a reason to panic, however it is somewhat concerning to me. I've been reading the forum posts on it, but I'd like to know what the general consensus is on this share, as I'm still struggling to understand everything at once. Would it be more advisable to cut my losses and sell out now, or do you believe it would be best to hang in for a while and see how it fares? If you would suggest the latter, what kind of time period would you suggest I watch for, and which point would you say it would be best to drop it if falls?

Thanks in advance.