gleneac, thanks for the sobering post..good to hear a little bit...

gleneac, thanks for the sobering post..good to hear a little bit of history regarding the IPO. Starts to make sense..

Fact is in this market on the ASX atm, explorers have been hammered (up to 90% in some cases from a year ago), developers (up to 70%) and producers (up to 40 or 50%).

But then you can get an explorer who gets $20m traded in a day on one drill result.. and up at one point 3000%. Bottom of market turning? Who knows. Depends on central bankers & politicians in the US, Eurozone and China after their holiday break. We need growth for resource stocks to fire up and that does look rather remote at the moment..
But if a company strikes it rich, as a mircocap/junior can do, u can pay the mortgage off, but to get that the benefit you need to buy in early on companies with potential tier one resources - before they erupt..

Add really good, inspirational management, and I don't mind hanging around until that day, putting it in the bottom draw as folk tend to say..AJQ might well be in this bracket.

I don't think I'm saying anything on this thread no one doesn't already know..

As to trading & investment techniques, I think i've tried them all, feverishly & religiously at the beginning, call it a learning curve, evolution etc.. you win some, loss alot, but you've got to learn as you go and now I do it on auto pilot.never set a stop loss.. Saw this last blind sided announcement & of course knew we were heading down...probably 25%, now I wondering 50% (think oil/gas explorer), thats still acceptable to me IF I think the the story hasn't changed & its not forever, it just depends which stock, my timeframe blah blah.. But the real question is wot is the fundamentals, the management, the story, the state of markets and whether i don't mind the pain for the duration.. And then u can always average down as gleneac says, on a really good stock that's good policy/opportunity. Let's face it, its nearly impossible to always get the best entry price, time after time. But you've got to get in at some point..but then shit can happen

Anyway, you need to believe to win, but this last year, HOPE does seem to be about the best strategy around..if that's a proven strategy!

I think I've rambled enough..


dw