Fair enough, good of you to clarify. I don't think there is any doubt CXY will long term be a winner unless the qld gov chucks a wobbly and goes completely bananas. However, bad news and uncertainty puts a wet blanket on share prices no matter how good the long term story... and the market is very sensitive atm. I thought that the lack of of buying after the JORC annoucement that there is not much pent up pressure here and became even more wary. Then, as soon as the newspaper report came out I sold. IMO it will drift lower until there are much more favourable reports in the press for the whole sector, or some really good news comes out the market can't ignore. But selling for me was not about the long term, but about short term needs at home and surviving the "sleep test". I have lost too much money in the last 18 months and capital protection is my number one goal at present. To all those that are doing it tough and are new to the market... listen to the old hands... cut your losses early and let your profits run... but never let your losses become greater than your "locked in" (i.e. sold) gains if you can't affort to lose. Even the stocks you 120% believe in can lose you money! Your amateur colleague in investing, Rennies.
CXY Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
