Well, half was luck...and the other half was luck!
I actually started buying UNI in the low 40's and finished buying in the mid 50's. My average buy was about .48c, and the way the share was running, I simply decided to park 1/3 of my holding in the mid $1.40's (3 times my av. buy price). I had my finger on the button ready to sell the other 2/3rds just in case the plunge came...it didn't! When the 1/3 got hit it meant the rest were free! By memory, I think I off-loaded the rest in the $1.20's, bought more back the same day at about $1.03 and sold everything at $1.10 before the close.
As you probably remember, the next day was a shocker!
I'll be the first to admit that luck plays a huge part in these types of "killer trades", however I believe it is experience that helps you recognise when the play is on in the first place!
I make most of my money trading on the type of sentiment effecting SLT at the moment. Sometimes it is only good for a 5-10% move in price...other times you can double, or even triple your money in a matter of days! However it doesn't always pay off, so the secret is to keep a tight stop-loss...maximise your returns and limit you losses!
I'll stop now...it's starting to sound like a lecture!
I think that the sentiment regarding SLT, although strong, is still in it's infancy. Just wait and see what happens after a couple of decent ASX announcements and when management have done the "road-train" thing. This will give brokers & the media something to talk about.
...and once SLT gets into the media...it will be another UNI.
Cheers!
SLT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
