Guys, you've held on this long (me until last week)...despite the bad news.
I think the fact that they announced some bad news is good in a way.......only in the context that good companies tell the news whether good or bad. This is them changing tune from their old style of hyping it up.
The announcement wasn't that bad anyway. Its just implying that contracts won't come straight away because its the off season. It could change for the better for all we know. (Though..... I'm sure that they could have provided this info on Friday....thats the only thing that is suss.) If Global screw Lumacom over, as lumacom make a name for themselves, it will be bad press for Global....particularly with CCU as a partner. (Just thinking out loud)
There will be contracts....it is only a matter of time. My advice is to get out (or hold or do what you think is best) and wait for better news. After some good news we should see some consolidation and then a SP rise. When a clear uptrend occurs then its time to get back in. Follow your trading rules. I wish I did this earlier.
LUM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
