Lopez - As I clearly stated in what I wrote:"Contrarian views...

Lopez - As I clearly stated in what I wrote:

"Contrarian views are great, but not when they reflect an ego that just cant let others talk about a stock that they are interested in - that just makes the poster look like a fool."

I am quite happy to read and think about contrarian views - I would be a one eyed biased fool if I didnt. However, when such views are repeatedly posted (in a manner that belittles those who hold an alternate view and seem to offer no scope for an alternative) I begin to suspect that a poster is trying to down-ramp a stock or has some hidden personal agenda. This means that the weight that I place on that posters views is correspondingly reduced.

As I also stated:

"PXS is difficult as you are buying into a story - an thus trying to value future sales on drugs where we don't know the ultimate usage patterns."

So the valuations (more like guesswork considering the variables) are going to vary wildly (and be VERY affected by market sentiment and illiquid trading). So when I feel that the stock has moved outside a fair price I will sell / visa versa. The fact there are no dividends to support the stock also play a significant role.

I thought that the PXS shareprice had run up too hard - but was kicking myself that I only sold 1/2 at $4.30. (In retrospect, selling the other 1/2 at $3.30 was a much better idea than I anticipated).

I sold 70% of my personal portfolio in September last year (of which PXS was one of many stocks) and placed the money in my home loan (I thought the entire market was very overvalued - and the security of a 8-9% interest offset (tax free) seemed to be a no-brainer for me).

In my Super portfolio I sold PXS to offset other capital losses that I had made (actually the other way around), and couldn't justify buying it back with no dividend (an important feature in a retirement portfolio).

After paying a significant capital gains tax bill I am now buying back stocks that I think should be in my long term personal portfolio.

(I am overweight in financials as of the last 2 months (10+% yields are just too attractive), have re-entered large mining stocks in the last 2 weeks, and cant resist having a speculative re-purchase of PXS - I am keen to see the drugs/company do well and am happy to be part of the story).

J.