re: Ann: PMI Announces Interim Order For Merg...
All extremely valid points Stu... and impossible to argue against.
The one and ONLY point I can guarantee.... and it's set in concrete... is that the SP WILL be above your entry point at some time in the future. The problem is that we (I include myself)can't stop ourselves from checking it on an hourly basis.... and therein lies the anguish.
I put this to you: If a higher being descended from the heavens and said to you "Stu, you have my promise that the SP of PVM will be $1.50 precisely on (date in the future)".
Does it really matter what path the SP takes?.
Suppose it rose to $1.00 next week, sat there for two months, then shot up to $1.20.... looking stronger by the day.... then receded to $1.05, before shooting to $1.50 months later. You know as well as me, that during that journey, you will be taking careful note of the fundamentals and the underlying strength of the SP .... and you will still be sitting there at the end. It is always difficult to quit a stock you have been in for a long time. It is always difficult to accept a reason as being good enough to exit, with the confidence the SP will then decline, thus justifying your decision to exit.
So.... notwithstanding the self imposed anguish of hourly vigilance... does it really matter what path the SP takes, given you will not sell along the way, anyway?
Truth be known Stu, the aggravating aspect of your PVM involvement is that your holding has effectively quarantined a significant amount of cash that could have been deployed elsewhere.... during a time when the market has risen so much in a short time.
Mate.... we are ALL a victim of that one!
However, whereas the market has risen, it is no good thing to believe that whatever share you had purchased, would have followed the same path as the XAO. You needed to buy the index to get the full benefit of the rise.
And believe it when I say that I wish I could stick hard and fast to the beliefs I am pushing onto you at this time. I too, ALWAYS forget the logic during times of despair.
The logic, however, never disappears.
PVM Price at posting:
56.0¢ Sentiment: Hold Disclosure: Held
