Jase - just wanted to say that I know you bought very high and are currently fretting about having red all over your GMM shares.
You are going to be fine. Not tomorrow or perhaps even next week
but the share price is getting back on track and you'll be in the green.
You haven't made a mistake here.
It was slightly unfortunate timing for you but the difference of 10c or so will be forgotten in the coming months.
This sucker has golden fundamentals and is in the right place and the right time.
Despite the action of the last week - this is a pretty solid and un-rattled bunch of share-holders.
No-one need lose money here. Be patient and let the market do its thing.
You even have the chance of averaging down your price by topping up.
It may not look like it but we are slipping back into business-as-usual.
Same as GXY, we have washed off the massive sudden spike and things are settling down.
This last week has been both over-exuberant and over-depressed but the reason that there was a dip is that there were large quick profits to be made before consolidation had a chance to catch up. Ones that were snapped up by the swingers.
Over-thinking things with correlations between stocks is just a sign of analysis gone wrong.
Lithium and Oil are not tied together. Only that one is the past and the other the future.
Buffet said never invest in something that you wouldn't want to hold for 10 years.
10 years in oil would be a very bad investment.
In GMM - well they're off to a flying start already and we've barely been operating for a month.
Read up a little more on what you have invested in and be patient.
If you hold this for a while you should still be looking at doubling your money or even better IMHO.
Best of luck
GMM Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
