don't lose all objectivity, page-55

My sentiment exactly.
Bought in at 11c on that basis, saw it drop to 9.5c straight away, got the usual lecture on catching falling knives, now marginally in the black (albeit temporarily perhaps).

In my experience it's very hard to pick the exact bottom when the market is in a funk, so you just have to come up with the most accurate valuation you can and assess whether it seems to be good value. At 11c it seemed a very good punt to me on a change in sentiment.

If I'd waited for it first to bottom and then break decisively out of it's downtrend before buying I'd probably be getting in about 16c or 17c. That's fine for the risk averse and there would probably be plenty of upside from there, but that's also a huge 50% profit left on the table. Not to mention how psychologically hard it is to pick the right moment to enter a rising stock, always wondering whether it might pull back the next day.

Anyway, will be interesting to see if there is any follow through buying or whether it was just a brief reversal before trending back down.