"For example, when you say this is the last chance right after the CR when it was near 8c, it implies that you believe it will not drop significantly below 8c" At the time of that post, I didn't know which way it would go. Just before trading resumed I expected the sp to possibly open near 7.5 to 7.8 and then gradually fall towards 7c either on soph selling or retail selling in case of soph selling and I considered there to be a chance that it could also fall below 7c considering the options have value and some sophs MIGHT have sold at or just below 7c knowing their options would still make the trade profitable. However I knew it could go either way with the IDC approval. It hit 7c early on low volume and then gradually and steadily climbed back to 8c on much higher volume. That strength surprised me, I thought that 7c low was looking more likely to hold and I posted that I was taking advantage of what I thought might be the low by transferring stock to my SMSF. I sold some shares on market as well. The reason I sold was more about money management, rather than a guess as to which way the sp would go but I did think that further selling might keep it in the 7-8c range for at least a few more days.
I actually was 50:50 on whether I was going to participate after the long suspension for two reasons. 1. I sold my business during the suspension and thought it was no longer appropriate to increase my holding in a stock I was already overweight in, after my regular and reliable income had ended. 2. The company did not yet have an outcome from the talks with the two companies that caused the suspension in the first place. I figured that increased the odds of a lower open - and again, I wasn't aiming to increase my already overweight position over the longer term after selling my business.
However, the company needed the cash so I preferred not to opt out. That wasn't quite enough on its own because my contribution wasn't going to make that much difference anyway but what got me over the line was the options. So while some here thought that they were unnecessary, they kept me from opting out due to my changed circumstances and they probably kept at least a few others from opting out for their own reasons. The reason I sold some shares on that day was that the shares were trading on high volumes near 8c whichwashigher than what I expected, so I placed a small sell order up high to see of it would get bought. It did so I placed other orders, which to my surprise were taken one after the other. That was why I posted commenting on the unexpected strength. I was able to support the company raise its cash and at the same time sell into strength and get the cash back in my account which filled both of my preferences. I actually bought those shares back again over the next few days - as I posted for a shorter term trade - because I can't help myself to buy when I think a stock is oversold. The bank balance is good enough for now so I accumulated on the way down and increased the buying at 6.1c. That was long post but if some here want to accuse me of ramping, I prefer to explain the circumstances of my trade/s. My posts are positive because I am very positive on this project and my positive sentiment doesn't change based on whether I am short term buying or selling part holdings. I'm not going to pretend that I don't occasionally trade, or hide that fact in case some morons want to accuse me of ramping. That is not aimed at you Riverflows.
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