The first time I bought BLK it was based on a friend's suggestion. I was scared off when I saw the July quarterly report (Apr-Jun). Because reading back on the company released information it was evident to me the company over the last few years kept downgrading its resource statement, and in the quarterly this happened again so that was my last straw.
I told the friend when I exited and gave my detailed reasons for doing so. However, for the person their sunk cost was too much and cutting at that point would mean realising losses of xx%. I didn't insist to the person my point since I don't want to be held accountable for the irrational market ups/downs. But looking back on it I should have asked harder to jump ship with me at 31c. If something is down there is a good reason and it can keep going down for the same reason. Personally I work in mining and I am astounded at the stuff ups the BLK company seems to score time and time again.
I keep watching this stock because I am a sucker for when things goes cheap. There is always a point where the reward is enough to draw me back in. So far this company is not doing anything right and all the work being done on expansion plans is bordering negligence. I also watched how Apex went down.
BLK Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
