Hey mate, glad to hear you're enjoying the water. Last surf for me was Noosa Heads on Australia Day. A few too many kids to look out for, but overall a great day. I'm still peeling after enjoying myself a bit too much and walking away looking like a lobster. My rashie was chaffing so I ditched it and kept on surfing without any sunscreen on my upper-body. The result was bad, 10/10 would not recommend....
That's a well timed sale on your AGY parcel. The best I managed was to sell a parcel of 50k shares at 57.5 cents (just dumb luck though). In hindsight I should've dumped the lot, but you live and learn. Great exit on AKE as well. I started selling around $16 and sold most in the high $14's. I got out of GLN at 92 cents after I'd had enough. These moves seemed prudent back when I made them, but I'm too impulsive to keep any powder dry so I piled the proceeds into AGY and WR1, thinking the bottom was near. Not only was my portfolio been subsequently decimated, but I incurred a $77k tax bill for booking the profits on AKE. To add insult to injury, Services Australia presented me with an $8,000 bill for the childcare benefit they paid throughout the FY, explaining that I'd earn too much and no longer qualified. Earning too much would normally be a nice problem to have, but all of those gains were reinvested in AGY and WR1, and we know where that went. Like you said though, life's only a bitch if you let it get to you. I'm confident the tide will eventually turn, and with it lift all boats. All you can do right now is laugh.
There's been some green shoots with the spot price so I'm hoping your right and we see some sustained moves up after CNY. I'm hesitant to call the bottom as I've obviously been wrong before, and it's usually lower than anyone expects it to be. It's still my belief that anything under 10 cents is great buying; I'm just not willing to jump in yet because I don't share the popular opinion that this is de-risked. I'm sitting this one out until some milestones are hit, or the share price moves to extreme lows (<7 cents) and can't be ignored any further.
This'll be an interesting quarter, that's for sure. Good luck with your entry, I hope it works out nicely. Dare I say it, I don't think it can get much worse than where we are right now.
AGY Price at posting:
9.5¢ Sentiment: None Disclosure: Held
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