Losty has the right perspective.Why do we buy stock..to make money..IMO 99% of stock buyers are made up of all sorts of aspirants.
The remaining 1% may be philanthropists for all I know.
I too have lost money by not looking to trade a stock, I was a firm believer in investing at the beginninig..big mistake. A combination of the two is the best especially if you believe the stock has legs.
The best position is a free carry position...just like the boards of MEO,CUE,MOG,OXX and countless others companies believe is the case...cash in when a farm in is secured ,shore up your position and move on and progress your position.
Why should the shareholders not do the same.
When push comes to shove on announcement of the Farm In situation..good or bad..most punters in MEO will be looking to close out their positions at the right price, some with the view to hold back some shares for the drilling event.
You know the stops will be in place from 60c-80c..it may peak at $1.10+..the pump followed by a dump,albeit the shares will settle at a higher low than it is today. This is usually a three day event.
With regard to my son and his mates...their stance is to go for the JURGULAR :))) with their trades..they made a killing in VIL last 10 days.I get bagged for the way I trade by all of them.
I do not ramp for rampings sake..you only need to look at some of my last posts on MEO.I always question delays and any impediment to shareholder value by any management,perceived,procrastination...I hate BS.
In my opinion MEO has currently undermined their own credibility with their lack of definative responses to their shareholder base...something you know is happening with CUE since Abers left...we left CUE some time ago at 23c..big deal :)) on a bucket load of shares. You almost did the same.
I maintain that, in my opinion, MEO will be a good stock up the track,whether or not the current status quo is maintained in the board structure or even if it is eventually taken over,partially or fully...it will be a long wait and who cares if you have a free carry position and taken out some profit in the interim...A shareholders Nirvana.
It may be time you bought some MEO shares at the current lows..chances are you will make 100% less costs on your trade.
Shrewd, most Stocks have retraced since their Sept lows..nothing unusual with the way the world market moves..they will also retrace upwards..how fast ..buggered if I know...but I do know MEO SHOULD be a good TRADE shortly.
At least we keep track..
My motto is "Keep the Bastards Honest" ..Don Chipp lives on..if you do not know he was the stirrer in Oz politics in the 70's/80's with the Australian Democrats.
Cheers,
HR
time to bury the hatchet and move forward and make some money.
All of the above is strictly my take on the current situation as I see it. If you see it differently I congratulate you..we all are entitled to our opinions..good or bad..that's what makes up the "Sharemarket" ..diverse views means volatility which means share momentum which leads to liquidity...All good.
Lastly, Shrewd,
CUE and MOG are not liquid stocks per se
MEO Price at posting:
38.5¢ Sentiment: Hold Disclosure: Held
