Your last 15k of investing capital or your last 15k?

First 174 Last

Share
Profile

Follow
RockstarJones

13,593 Posts.

462

04/06/18

14:40

Post #: 33478189
Share

Originally posted by mtgmarty ↑

There is a common saying for traders: "buy the rumour, sell the news". I have over 2 million units in AVZ and I'm sitting on quite substantial paper losses. I was tempted to sell on the news this morning, and buy back in a pip or two lower. Three things were on my mind:

1. The technical down trend is still in effect, its is getting close to being broken however IMO.
2. Impatient investors (or traders) might have been looking for an exit and this great news about such positive drill results was a perhaps a good opportunity to exit with minimal losses, or maybe a pip up for the traders.
3. While it looks like the bulls will have the day in the long run, for now the bears are still in control. You see it every day on close, most of the sell depth just disappears but the buy depth remains solid after the market closes. The market depth gave my spider senses that feeling that today this would go south.

FA will win the day for AVZ in the long run. However, this is not a get rich instantly stock. Fortune will favour those have the patience and presence of mind to ignore the attempts of the bears to frustrate you out of your shares.

Ultimately, I decided to put the last $15K of my capital on the line and bought more at 13c. I got burned with this stock in February last year I sold over a million units hoping to buy back in a few pips lower only to see the damn thing skyrocket as soon as my order got filled.

Expand

Your last 15k of investing capital or your last 15k?

AVZ Price at posting: 13.0¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

CC9

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

SGQ

St George Mining jumps 8% on news it's appointed two niobium executives – from the world's biggest player, CBMM

MND

Monadelphous profits up 16.2% on strong revenue result, and the market likes it

IIQ

INOVIQ says it has found a way to test blood for Parkinson's Disease – after Alzheimer's success in June

KOB

Koba jumps on uranium rock chips grading over 7% as uranium price revival evidence mounts

There are more pages in this discussion • 167 more messages in this thread...

First 174 Last

Add AVZ (ASX) to my watchlist

Your last 15k of investing capital or your last 15k?

Top Stories

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

St George Mining jumps 8% on news it's appointed two niobium executives – from the world's biggest player, CBMM

Monadelphous profits up 16.2% on strong revenue result, and the market likes it

INOVIQ says it has found a way to test blood for Parkinson's Disease – after Alzheimer's success in June

Koba jumps on uranium rock chips grading over 7% as uranium price revival evidence mounts

Featured News