re: Ann: Presentation - 2010 Sydney Resources...
Crypto,
That's one of the most refreshingly honest posts I've come across in a while. None of us gets our trading right all the time, and adapting technique and strategy is part and parcel of the investment learning curve.
I was (one of) the guy(s) who sat on the market at 20c that day and offloaded over 500k shares. I was in Cambodia at the time, and my broker was relaying price information. I had averaged down aggressively around 4c on the back of the GFC and I thought, this is a pretty good return in 6-7 months considering what I had experienced the year before! So I knocked out a chunk. If it hadn't been me, it would have been somebody else. That's timing. Buy the rumour, sell the fact.
My position is bigger this time around, as I have scaled back in again. The news flow and volumes are better. A couple of million shares trade now and the impact on the price has been minimal. These are all healthy signs for me in the near term. I haven't unloaded any since last October.
Some people will hold till 50c or higher (when?), some will trade in and out many times over. A German broker put 29c on it the other day. Who really knows at the moment!? Just remember that EKM is nowhere near being a producer, and until it decides to address that little delicate matter, you are (a) riding a liquidity driven rally in commodity stocks in general; (b) riding a stock which is moving nicely on the promise of healthy assays and increasing resource. After that, it has a long way to go. As such, it will be volatile and, above all, requires patience.
I have faith in this one even if the journey in between may be rocky sometimes.
G
EKM Price at posting:
21.5¢ Sentiment: LT Buy Disclosure: Held
