To Gloucester and other people getting worried and...

To Gloucester and other people getting worried and impatient...

No.1 - announcements are rarely on time and in truth the announcement was only really due last Thursday/Friday if you take away the "early July" carrot from the June 18th announcement and look at the inital, more substantial announcements. More patience may be required yet.

No.2 - I bought FDL (now FMS) in its 1st high volume run long before the I/O announcement, but the price dropped back leaving me in the red and after a bit of time I got impatient and worried as I had a lot of money in and other places it could go so I sold, losing $20k which I could absorb but it still hurt. I was looking at other less risky trades I could be doing and to be quite honest I wasn't ready for "penny dreadful" trading. It's a wholly different game to 20c-$2 specs.

At open the day after the announcement, which had brought FDL out of a trading halt late in the day the previous day, I could've sold with $1.5Mil in my pocket. I'm not making that mistake again. It's very hard to stomach, trust me.

I realise relaying this story only makes me look like a git but I was a lot less experienced with this type of trading back then. Plus I don't care what HC readers think of me.

I could tell many other "lack of patience cost me a packet" trading stories from my less experienced days but my posts are always too long as it is.

I've owned CFRO for quite a while (I'm in the most recent top 20 disclosure for oppies) and have topped up on oppies and bought into the heads since the announcement 10 weeks ago.

I know there is a chance that I could loose the lot but there is a much higher chance IMHO that this will do something along the lines of what FMS did. You can never be sure of course...this is the stock market...but the upside is massive here.

And to Geezer. Thanks for being there to shine some reality on these comments from Blastfurnace. Everyone has a right to their opinion but when you make statements like this BF...

"Thats rubbish Geezer I'm afraid. There is NO incentive to convert now unless they thought the price was going to go DOWN."

...you look like a down ramper or you're living on another planet IMO. The previous seems more likely as BF said he just sold...and because I don't think aliens read HC...who knows...

In the end I rarely post on HC as the fact is that it makes no difference to me if people who read HC believe Blastfurnace is right and sell. It will be their loss IMHO and I'm only stating my story because it was, quite simply, a defining decision in my life and I hope sharing it might mean someone else doesn't have to stomach that very painful feeling and instead has a positive life-changing experience.

At the end of the day people you have to do your own research and know that you got in for the right reasons. Forget the daily technical data IMO. We're in for the announcement now.

BF - I do hope you get back in but I mostly I hope that the annoucement comes tomorrow so I can take my eyes off this freakin screen for a while and end the anticipation.

All the best to holders.