Fair enough, we are all trying to outperform the index and often it's good to stand by your beliefs.
I sold off all my ASX blue chips several days ago as I do several times a year when the short term trend in the All Ord's breaks it's uptrend. I will then buy them back a month or two later unless there is some dramatic change in the index, but for now I can't see this happening with China's 4 biggest banks not lending for development for the rest of the year.
I haven't sold 3 shares because they all have potential to swing well up against the overall market trend MMX, BUY and NAV and all have events coming. MMX I hold the most.
TLS though is a worry and I think they will have serious issues in the coming years.
MMX is mining DSO right now, the operation is cashflow positive but how would you expect MMX to run at a profit as they are spending so much on development transforming themselves into a $25MTPA company.
MMX has a lot of DSO and I wouldn't be surprised if they have a lot more at the Weld Range tenement they are talking about. OP&R will run at a profit on top of finance costs as they will calculate the charges to make the profit which is in the State Development Agreement
MMX Price at posting:
$1.22 Sentiment: Buy Disclosure: Held