drilling, page-22

12

I don't think you could name me one regular trader who can time entry and exit to a tee 100% of the time.

I'll be the first to admit that on other stocks I have sold out or significantly reduced my holdings, with the view to averaging down, only to find that out of the blue the sp races well above my exit price. This can happen without any updates from the company but due to the dynamics of the share market. Perhaps you could call it a chain reaction.

In some situations, where I expected I had heaps of time to re-enter, the sp more than doubled.

The way I approach a stock these days is to weigh up what I consider to be the risk factor of the eventual outcome. If I assess a next to nil risk factor I will trade down with a very minimal number of shares.

We pretty well all have our own strategies in working the stock market but I consider selling off 100% where you consider a next to nil risk factor as a no no.

Remember, I'm only referring to the recovery operation here. Further cementing, if required, will again open up more opportunities to trade down but only on low volumes as the risk factor of any additional cementing failing would be minimal. This process will then be repeated for the anticipated outcomes of drilling Leadville, wire logs and flow testing etc....and yes the greenies have their spot in there as well.