Directors notice just released and he is a SELLER?
Cardinal rule in junior companies is that if you are a director and need to sell before the company has made a success of itself then YOU RESIGN (or fall on your sword, pardon the pun) BUT NEVER NEVER SELL.
After this news this will be 1.5c
Call me a downramper if you like but a director selling shows that even he doesn't think it is worth holding.
I learnt this the hard way in 2000/01 when Fogarty sold stacks of ERG around xmas at $3 only for Motorola to pull out (very smelly) and the shares to go to 25c, $250,000 loss and a lot of sleepless nights.
Same with AMX(Third Rail in 2000) Director sold at 60c (they then went briefly to $1.20) and then back to 3c.
In this case I made $100k but if I had have sold as soon as I saw the directors selling then I would have made $500k.
All hard but worth while lessons.
Good luck
K Band
Directors notice just released and he is a SELLER?Cardinal rule...
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