CLA - Cobalt related news, page-2457

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stevesy

1,641 Posts.

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11/03/19

12:41

Post #: 37719269
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Originally posted by Travis79 ↑

I hope you are right Stevesy for the sake of a lot of people who invested in the company and didnt bother to use a stop loss.

I learned a very valuable and expensive lesson investing in a company similar to Celsius Resources.
In 2010 Rare Earths were all the rage, they went through the roof, experienced massive growth. Rare Earth metals are used in batteries, electronics, magnets and military equipment, everyone wanted it and China controlled almost all of it. People started to panic about China's monopoly and it started to rise rapidly.
The Rare Earth stocks on the ASX experienced the same rises.
I invested in a speculative mining stock that had the worlds biggest rare earth resource, was due to have the scoping study, pre feasibility study, feasibility study, environmental and social impact studies, mining license approval, construction and mining by 2014.
On paper I made a lot of money, the stock rose to over $1. I was young, greedy and naive, I didnt know much about stop losses/conditional orders and didnt bother to learn, I thought I knew it all, didnt need to use them. When the Rare Earth prices dropped so did the share prices.
I watched it fall from $1.20 all the way down to 3 cents. I didnt sell because 'it had to go back up, the world needs it' and 'it will close the gap for sure'.
Anyway, eventually bit the bullet and sold for $100k loss, hurt at the time but probably the best result for me in the long run.
8 years later that stock that had to go back up is now at about 5.5cents and still doesnt have a mining license.
I was lucky on CLA, made $80k because of my stop losses, I learned my lesson that just because you believe the story doesn't mean the share price will always go back up.
If you invest at this end of the market without an exit plan/stop loss order and just relying on hope you are asking to lose your investment.
I dont like to see anyone lose money, especially myself, so I hope this company does well, and it might, and if it does I will be the first one back in.

Good luck.

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I hope for everyone that this goes back over 5 cents or even better it closes the big gap up @ 10 cents

The chances of this closing the gap is extremely high, low risk high reward down at these prices.

I’m very careful what I buy on the market, after that big drop I had to buy, they have cash and a very low enterprise value and with assets in the ground.

Congratulations on making $80k that’s good profit.

CLA Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
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